Dollar: closing price today, May 29 in Bolivia

Dollar: closing price today, May 29 in Bolivia
Dollar: closing price today, May 29 in Bolivia

The Central Bank announced that it will preserve the exchange rate of the Bolivian against the US dollar. (Infobae)

On the last day the American dollar was negotiated at closing 6.86 bolivianos on averagewhich represented a change of 1.99% when compared to the figure from the previous day, when it ended with 6.73 bolivianos.

In the last seven days, the American dollar accumulates an increase of 1.94%%so that since a year ago it has still accumulated an increase of 1.99%.

If we compare the data with previous dates, it added two successive sessions of positive numbers. The volatility for the last week was 22.09%, which is a figure higher than the annual volatility figure (17.47%), therefore the value experiences greater changes than the general trend.

Although the Central Bank of Bolivia has an official price of the dollar, the truth is that in reality this price is different, something that was evident at the beginning of 2023 when a shortage of the US currency was recorded. Currently the official exchange rate is 6.96 for sale and 6.86 for purchase.

Regarding inflation, the Bolivian government expects it to be 3.60% by 2024, a percentage that is close to the ideal of three percentage points. It is worth mentioning that Bolivia has been characterized by registering stable inflation control in recent years, unlike other economies in the region.

The same happens with the growth forecasts of the Gross Domestic Product (GDP), since the Central Bank of Bolivia expects it to be 3.71% in 2024.

He Bolivian is the legal tender of Bolivia since 1987 and is divided into 100 centavos. Previously, the Bolivian peso was used but it was replaced. The Central Bank of Bolivia is the body in charge of regulating the issuance of currency.

Regarding manufacturing, the Bolivian currency stopped its minting and printing during the colonial era due to lack of political interest, which would cause it to finally coins and banknotes were made abroad due to 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 an increase in public debt and a reduction in international reserves.

As in other countries, the coronavirus pandemic It severely affected Bolivia’s economy, although inflation was not as high as in other Latin American nations.

In 2022, Bolivia stood out for having a lower inflation rate than its neighboring countries, this is due to a response to fuel price subsidies and the fixed exchange rate of the dollar with respect to the local currency; However, it has had to face a loss of international reserves and increased debt.

The country is also facing global efforts to shift to clean energy, so these conditions will force one of the largest gas exporting countries to look for alternatives this year.

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