Parallel market dollar drives national economy | Dólar del mercado paralelo mueve economía nacional

By El Diario:

The currency is above Bs 11

  • The official exchange rate is increasingly detached from reality, while the parallel market rate continues to rise, according to analyst Gabriel Espinoza.
They report that the parallel dollar remains above Bs 11.00 in the country.

Parallel exchange rates emerge due to the Central Bank of Bolivia’s (BCB) inability to implement an effective exchange rate policy caused by a lack of reserves. As a result, most economic transactions are conducted using the dollar quoted in the parallel market, which remains above 11 bolivianos per unit.

“(…) it is no longer credible to claim that the official exchange rate is the only one. Therefore, the outlook for this year is essentially the same or worse, as the BCB has fewer and fewer dollars,” reflected economic analyst Gabriel Espinoza.

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