The euro traded at the close at 7.48 Bolivianos on average, up 1.48% compared to 7.37 Bolivianos on average the previous day.
Taking into account the last seven days, the euro recorded a rise of 1.22%; on the other hand, in year-on-year terms, it still accumulates a decrease of 8.87%. As for the variations of this day compared to previous days, he accumulated three sessions in a row of earnings. The volatility for the last week is visibly higher than the data achieved for the last year (7.46%), so that the value undergoes greater changes than the general trend.
In the last year, the euro has even changed by a high of 7.76 Bolivianos on average, while its lowest level has been 7.28 Bolivianos on average. The euro is positioned closer to its minimum value than to the maximum.
Uncertainty for the Bolivian Boliviano
The Bolivian has been the legal tender of Bolivia since 1987 and is divided into 100 cents, formerly the Bolivian peso was used but it was replaced. The Central Bank of Bolivia is the body responsible for regulating the issuance of currency.
The coins of 10, 20 and 50 cents are currently in circulation, as well as 1, 2 and 5 Bolivianos. In 1988 a Bolivian was equal to one US dollar.
As for creation, the Bolivian currency stopped its minting and printing during colonial times due to a lack of political interest, which would eventually cause coins and banknotes to be created abroad because of the low price that this implies. In 2013 they were still manufactured in countries such as the United Kingdom, France and Chile.
As for the economy, in 2014 Bolivia resorted to high public spending and growing domestic credit to maintain its growth, but these measures resulted in increased public debt and reduced international reserves.
Like all over the world, the coronavirus pandemic severely affected Bolivia's economy, although inflation was not as high as in other Latin American nations, closing 2021 with 0.90 percent.
According to projections made this year by the World Bank, Bolivia will grow by only 3.7% by 2022, however, President Luis Arce has challenged these forecasts and assured that Gross Domestic Product (GDP) could grow by up to 6%.
Inaddition, the country closed 2021 with a trade surplus of $1.471 million, the first in the last six years, where annual negative balances were recorded in the balance. In addition to these conditions, unemployment has increased by 5.2 per cent.
Bolivia is also facing global efforts to move to clean energy, so these conditions will prompt one of the largest gas-exporting countries to seek alternatives.
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Agencies