Loss of purchasing power against neighboring currencies | Pérdida de poder adquisitivo frente a las monedas vecinas

By ANF, Eju.tv:

The boliviano registers loss of purchasing power this weekend against neighboring currencies

The main problem is the lack of dollars, since resources were not well managed during the governments of the Movement Toward Socialism, the party that seeks to remain in power in the upcoming elections.

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The Bolivian currency began to register significant losses in its purchasing value this weekend. The informal exchange market reacted negatively for the national currency along all the country’s borders.

In Bermejo, on the border with Argentina, exchange houses were offering 15 bolivianos per 1,000 Argentine pesos yesterday for selling and 14 bolivianos for buying — a drop of one boliviano compared to previous days, when the rate had reached 16 bolivianos.

The same phenomenon was recorded in Desaguadero, bordering Peru, where the parallel exchange rate reached almost Bs 5 per sol on Thursday, May 15. This weekend, it is trading at Bs 4.65 per Peruvian currency.

The Chilean peso also showed an unfavorable rate for the national currency this weekend. In the informal market, 10,000 Chilean pesos were being exchanged for 175 bolivianos. Likewise, on the border with Brazil, the real is trading at 3.20 bolivianos, a high figure compared to previous weeks.

Meanwhile, the US dollar continues to trade above Bs 16 in the black market, the only place where the population can access the foreign currency in necessary amounts.

The country is going through a severe economic crisis that has not been solved by Luis Arce’s government for the past two years. The main problem is the lack of dollars, since resources were not well managed during the governments of the Movement Toward Socialism, the party that seeks to remain in power in the upcoming elections.

//FPF//

Source: ANF

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