The US dollar traded at the close to 6.80 Bolivianos on average, implying a decrease of 0.15% compared to the previous day's price, which was 6.81 Bolivianos on average.
Taking into account the last seven days, the US dollar accumulated a rise of 1.78% and for a year it has still maintained a rise of 0.92%. Analyzing this data with that of previous days, the direction of the previous data changed, when it ended up with an increase of 0.03%, showing that it is not able to consolidate a definite trend in recent dates. The volatility figure showed a somewhat higher performance than the volatility reflected in the last year's data, so it shows greater alterations than the general trend in value.
In the annual photo, the US dollar has even changed by a high of 6.82 Bolivianos on average, while its lowest level has been 6.65 Bolivianos on average. The US dollar is closer to its maximum than its low.
The Bolivian
Boliviano 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 manufacturing, Bolivian currency stopped minting and printing during colonial times due to a lack of political interest, which would eventually result in coins and banknotes being made 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.
In the economic sphere, in 2014 Bolivia resorted to high public spending and increasing domestic credit to maintain its growth, but these decisions resulted in an increase in public debt and the reduction of international reserves.
Like all over the world, the coronavirus pandemic hit Bolivia's economy severely, 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.
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.
Agencies
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