Last day, the US dollar traded at the close at 6.81 Bolivianos on average, an increase of 1.77% compared to 6.69 Bolivianos on average the previous day.
In relation to last week's profitability, the US dollar marked an increase of 1.97%, so for a year it has still maintained a rise of 1.06%. In relation to past dates, it reversed the data of the previous day, when it ended with a decrease of 1.67%, being unable to establish a definite trend in recent dates. In the last week, volatility showed a clearly higher performance than the volatility shown in the last year's data, indicating that it shows greater alterations than the general trend in value.
In the last year, 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 positioned closer to its value than to the minimum.
Among the uncertainty
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, 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 made 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.
In the economic sphere, in 2014 Bolivia resorted to high public spending and increasing domestic credit to maintain its growth, but these measures resulted in an increase in public debt and the reduction of 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.
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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