Euro Exchange Rate In Bolivia On January 30, 2021
On the last day, the euro traded at closing at 7.40 bolivianos on average, so it represented a change of 0.9% compared to the 7.33 bolivianos on average of the previous session.
In reference to the profitability of the last week, the euro registered a rise of 1.65% and for a year it has still maintained a rise of 0.81%.
Analyzing this data with that of previous days, he added two consecutive days of rise. The volatility referring to the last week presented a clearly lower performance than the volatility shown by the data of the last year, so that in this last phase it is having fewer changes than normal. The challenges of the Bolivian.
Bolivian Has Been The Legal Currency of Bolivia
The Bolivian has been the legal currency of Bolivia since 1987 and is divided into 100 cents. In the past, 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.
Today the coins are in circulation. In 1988, one boliviano was equal to one US dollar.
Regarding manufacturing, the Bolivian currency stopped its minting and printing during the colonial era due to a lack of political interest, which would eventually cause the coins and bills to be created 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 growing domestic credit to maintain its growth, but these measures resulted in an increase in public debt and a reduction in international reserves.
As throughout the world, the coronavirus pandemic 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, partly as 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 indebtedness.
The country is also facing global efforts to move to clean energy, so these conditions will push one of the biggest gas-exporting countries to look for alternatives this year.
According to the latest forecasts made by the Economic Commission for Latin America and the Caribbean (Cepal), after progress was made in 2022 after the crisis caused by the coronavirus pandemic, by 2023 a setback or exhaustion of the rebound effect on recovery.
For this year, only 1.3% growth is expected for the region, as a result of restrictive monetary policies, greater limitations on fiscal spending, lower levels of consumption and investment, little capacity to contain inflation, and more.
According to ECLAC forecasts, Mexico would have a growth of 1.1% by 2023.
These will be the estimated growths for these South American nations in 2023: Argentina (1%), Bolivia (3%), Brazil (1%); Chile (-0.9); Colombia (1.9%); Ecuador (2%); Paraguay (4%); Peru (2.2%); Uruguay (3%); Venezuela (5%).
For the area of Central America there are: Costa Rica (2.8%), Cuba (1.8%); El Salvador (1.9%); Guatemala (3.3%); Haiti (0%); Honduras (3.3%); Nicaragua (2.1%); Panama (4.2%); and the Dominican Republic (4.7%).
With regard to the Caribbean region, the following growth is expected: Antigua and Barbuda (7.8%); Bahamas (4.1%); Barbados (3.5%); Belize (2.0); Dominican (3.5%); Grenada (3.6%); Jamaican (3%); Saint Vincent and the Grenadines (3.7%); Saint Lucia (5.9%); Suriname (2.4%); Trinidad and Tobago (2%).
This article is originally published on infobae.com