June 23, 2024

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Dollar: closing price today, April 24, in Bolivia

Dollar: closing price today, April 24, in Bolivia

The central bank announced that it would maintain the Bolivian exchange rate against the US dollar. (information)

he American dollar Negotiated at closing 6.86 Boliviano on averageIt represents a change of 1.59% compared to the number of the previous session when it ended at 6.75 bolivianos.

Regarding the past seven days, American dollar represents an increase in 1.9% On an annual basis, it still maintains an increase in 1.83%.

Compared to previous days, two consecutive dates in green have been added. Volatility over the past seven days was slightly higher than that accumulated last year, so it is going through a period of instability.

Although the Bolivian Central Bank has an official rate for the dollar, the fact is that this rate is different in reality, something that became clear in early 2023 when a shortage of the American currency was recorded. Currently the official exchange rate is 6.96 for selling and 6.86 for buying.

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

The same thing happens with GDP growth forecasts, as the Bolivia Central Bank expects it to reach 3.71% in 2024.

he Bolivian is legal tender Bolivia since 1987 and is divided into 100 centavos. Previously, the Bolivian peso was used but has been replaced. The Central Bank of Bolivia is the body responsible for regulating the issuance of currency.

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Regarding industrialization, Bolivian currency stopped being minted and printed during the colonial era due to a lack of political interest, which led to its complete cessation. Coins and banknotes were made abroad For the low price that this means. In 2013, they were still manufactured in countries such as the United Kingdom, France and Chile.

In the economic field, 2014 Bolivia resorted to high public spending And increasing domestic credit to maintain its growth, but these measures led to an increase in public debt and a decrease in international reserves.

As is the case all over the world, Coronavirus pandemic It severely affected Bolivia's economy, although inflation was not as high as in other Latin American countries.

In 2022, Bolivia stands out Lower inflation rate than neighboring countriesThis is partly in response to fuel price subsidies and the fixed exchange rate of the dollar against the local currency. However, it had to face the loss of international reserves and increasing debt.

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