The euro is trading at the opening at 7.43 Bolivianos on average, which represented an increase of 0.47% compared to the previous day's price, when it scored 7.40 Bolivianos on average.
Compared to the last seven days, the euro recorded a rise of 1.22%, although, on the contrary, for a year it has still accumulated a decrease of 9.63%. Compared to previous days, it accumulates two successive sessions in positive values. As for the volatility of the last dates, it shows a return that is clearly lower than the volatility reflected in the last year's data, therefore its price is showing fewer changes than usual in recent days.
In the last year, the euro has even changed by a high of 7.76 Bolivianos on average, while its lowest level has been 7.28 Bolivianos on average. The euro is placed closer to its minimum value than to the maximum.
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.
Today, coins of 10, 20 and 50 cents are 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 created 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.
As for the economy, in 2014 Bolivia resorted to high public spending and growing domestic credit to maintain its growth, but these decisions resulted in increased public debt and reduced 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 projections 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 as much as 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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