After the opening of the session, the euro traded at the opening to 7.46 Bolivianos on average, representing an increase of 0.84% compared to the previous day's price, when it ended with 7.40 Bolivianos on average.
If we consider the data for the last seven days, the euro has risen by 1.07%; but in year-on-year terms it still continues to fall by 9.11%. If we compare the figure with previous days, add four dates in a row in positive digits. As for the volatility of recent dates, it is 8.49%, which is higher than the annual volatility figure (7.38%), so that the value changes more than the general trend.
In the annual photo, the euro has even changed by a high of 7.76 Bolivianos on average, while its lowest level has been 7.28 Bolivians on average. The euro is placed closer to its minimum than its 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 equivalent 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 cost that this implies. In 2013 they were still manufactured in countries such as the United Kingdom, France and Chile.
Regarding the economy, in 2014 Bolivia resorted to high public spending and increasing domestic credit to maintain its growth, but these decisions resulted in increased public debt and reduced international reserves.
As in other countries, 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 forecasts 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.
The country 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