There are NO dollars – NO hay dólares

El Diario:

With serious harm to the population

Shortage of dollars forces buying from the parallel market at more than Bs 7.70

The shortage of dollars in the country has caused the parallel market to gain importance and therefore the price of the North American currency has risen above 7.70 bolivianos per currency; Paradoxically, the official exchange rate remains at Bs 6.99. Despite official announcements of regularization, the situation worsens, causing serious harm to the population.

In the national market there are no dollars that can be purchased at the official exchange rate and importers must buy at higher prices, which range between 7.70 to 7.80 bolivianos, which affects the final price of the product.

Industrialists are in the same situation, who must buy inputs and raw materials at higher prices, which makes their production more expensive.

Although the Government reported that sales are regularized, banks, including Unión, do not sell more than 200 dollars per day, despite the need of savers; while other financial entities no longer want to accept savings in dollars.

Authorities from the economic sector indicated that the Central Bank of Bolivia (BCB) regularly supplies dollars to the banking system, however, from this sector they indicated that the provision was not normalized, therefore, the sale cannot be regularized.

Added to this lack of dollars is the increase in the commission made by banks of 10%, which makes financial transactions abroad more expensive.

The economist Antonio Saravia, in this regard, wrote on his Twitter account @tufisaravia: “Of course we will begin to experience inflation. When the Bs are worth less because they do not have support in dollars (because these do not exist), then people protect themselves by raising prices. As Gustavo Cerati would say, we are on the edge of the ledge.”

International media warn that the situation with the dollar will continue, therefore, it will encourage higher inflation in the region. The trade war between China and the United States does not stop, and they will use different strategies to advance their objective: to win.

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