Parallel dollar disappears | Desaparece el dólar paralelo

By Brújula Digital:

The parallel dollar disappears from exchange houses and money changers in La Paz

A day after the government authorized YPFB to acquire dollars from the national banking system, U.S. currency vanished from exchange houses and street money changers in downtown La Paz.

One of the currency exchange houses in downtown La Paz.

The dollar shortage in the parallel market has worsened in La Paz. A day after the government authorized YPFB to acquire dollars from the national banking system, U.S. currency disappeared from exchange houses and street money changers in the city center.

“We don’t have dollars” and “we’re out of dollars” were common responses at exchange houses along key avenues like Camacho, Colón, Pérez Velasco, and Loayza, where foreign currency is typically traded.

On Tuesday, the parallel market dollar stood at 11.50 bolivianos, 4.5 bolivianos above the official rate, which the government has kept unchanged for over a decade but is no longer available in the financial system.

By Wednesday, reports indicated that the parallel rate had climbed to 12 bolivianos. “The last we sold was at 11.50, then we didn’t get any more,” said a money changer.

During a tour of the area, Brújula Digital documented citizens’ frustration over alleged irregularities in dollar sales. “I went to buy dollars, and right in front of me, a woman sold 500 dollars to an exchange house on Loayza Street. When I stepped up to buy those same dollars, the clerk told me they didn’t have any. I pointed out that they had just received them, but she said they were already committed,” a frustrated buyer recounted.

On Tuesday, the government issued Supreme Decree No. 5348, allowing YPFB to obtain dollars from state banks and financial institutions to purchase crude oil, diesel, and key gasoline production inputs. The measure has raised concerns in the financial sector and informal market, where the dollar shortage is deepening.

BD/LE

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