The euro is trading at the beginning of the session at 7.27 bolivianos on average , so it implied a change of 0.28% compared to the 7.25 bolivianos on average of the previous session.
In the last week, the euro has recorded a rise of 1.21% ; On the other hand, in year-on-year terms, it still maintains a decrease of 4.3% .
Analyzing this data with that of previous days, it adds four consecutive sessions in green. Regarding the volatility of the last dates, it presents a balance slightly higher than the volatility shown in the data of the last year, presenting itself as an asset with greater variations than what the general trend indicates.
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.
Coins of 10, 20 and 50 cents are currently in circulation , as well as 1, 2 and 5 bolivianos . In 1988, one boliviano was equal to one US dollar.
As for the creation, 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 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 growing 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 severely affected the Bolivian economy, although inflation was not as high as in other Latin American nations as it closed 2021 with 0.90 percent.
According to the forecasts made this year by the World Bank , by 2022 Bolivia will grow only 3.7%, however, President Luis Arce has defied these forecasts and has assured that the Gross Domestic Product (GDP) could grow up to 6 percent.
In addition to this, the country closed 2021 with a trade surplus of 1,471 million dollars, the first in the last six years, where annual negative balances were recorded. In addition to these conditions, unemployment has increased by 5.2 percent .
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.
Source: Info Bae