Dollar Drops as Bolivia Returns Savings | El dólar cae mientras Bolivia devuelve ahorros

By Carlos Corz, Vision 360:

The reference exchange rate of the dollar recorded a continuous drop and closed at Bs 8.59 for buying and Bs 8.77 for selling.

The start of the decline in the reference exchange rate of the dollar coincided with the return of savings in U.S. currency, which had been restricted since 2023.

Foto del edificio del BCB

Photo of the BCB building.

The reference exchange rate of the dollar published by the Central Bank of Bolivia (BCB) fell steadily this week and closed on Friday at Bs 8.59 for buying and Bs 8.77 for selling, in the context of the reimbursement of bank savings of up to US$1,000.

On Monday, the reference rate opened at Bs 9.32 for buying and Bs 9.52 for selling, while on Tuesday the figures dropped to Bs 9.09 for buying and Bs 9.28 for selling.

Since December 5
This BCB indicator began to be published on December 5 and, since then, it measures the real market value of the U.S. currency.

The systematic decline in the exchange rate coincided with the start of the reimbursement of up to US$1,000 to small savers. This measure involved injecting US$48 million into the financial system.

By Wednesday, the rate stood at Bs 8.86 for buying and Bs 9.05 for selling, while on Thursday it reached Bs 8.99 for buying and Bs 9.18 for selling.

Read also: IMF highlights Latin America’s “stable” growth and the mixed impact of a weak dollar.

The week closed at Bs 8.59 for buying and Bs 8.77 for selling.

Before Monday, the return of dollar savings was restricted and even prevented due to the lack of available foreign currency in banks.The government of Rodrigo Paz said it amounted to a bank withdrawal restriction that began in 2023.

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