Closing rate of the euro in Bolivia this February 20 from EUR to BOB

He euro was traded at the close of 7.28 bolivianos on averagewhich represents a variation of 0.14% compared to the figure for the previous session, which was 7.29 bolivianos on average.

Looking at last week’s data, the euro gets a raise 1.44%; on the other hand, for a year, it still maintains a decrease in 0.45%.

Analyzing this data with those of previous dates, he reversed the result of the day before, where he obtained an increase of 0.06%, showing in recent days a lack of continuity in the results. The volatility referring to last week is notoriously lower than the figures obtained for last year (14.42%), so we can say that it is going through a period of greater stability lately.

Bolivia’s challenges

He Boliviano is legal tender of Bolivia since 1987 and is divided into 100 cents, formerly the Bolivian peso was used but it has been replaced. The Central Bank of Bolivia is the body responsible for regulating the issuance of currency.

Today there are coins in circulation . In 1988, one boliviano was equivalent to one US dollar.

As for the creation, the Bolivian currency stopped its minting and printing in colonial times due to a lack of political interest, which will eventually cause the coins and banknotes were created overseas for the small price that implies. In 2013, they were still being made in countries like the UK, France, and Chile.

Concerning the economy, in 2014 Bolivia has resorted to high public spending and growing domestic credit to maintain growth, but these decisions have resulted in rising public debt and shrinking international reserves.

As everywhere in the world, corona virus pandemic This severely affected the Bolivian economy, although inflation was not as high as in other Latin American countries.

In 2022, Bolivia stood out for having a lower inflation rate than its neighboring countries, this partly in response to fuel price subsidies and the fixed exchange rate of the dollar against the local currency; however, it faced a loss of international reserves and increased indebtedness.

Bolivia also faces global efforts to switch to clean energy, so these conditions will push one of the biggest gas-exporting countries to look for alternatives this year.

According to the latest forecasts of the Economic Commission for Latin America and the Caribbean (Cepal), after progress made in 2022 after the crisis caused by the coronavirus pandemic, by 2023, a decline or exhaustion of the rebound effect is expected in recovery.

For this year, only 1.3% growth is expected for the region, because result of restrictive monetary policiesgreater limitations on budget spending, lower levels of consumption and investment, weak ability to contain inflation and more.

According to ECLAC forecastsMexico would grow by 1.1% by 2023.

These will be the estimated growths for these nations of South America in 2023: Argentina (1%), Bolivia (3%), Brazil (1%); Chile (-0.9); Colombia (1.9%); Ecuador (2%); Paraguay (4%); Peru (2.2%); Uruguay (3%); Venezuela (5%).

For the domain of central America we have: Costa Rica (2.8%), Cuba (1.8%); El Salvador (1.9%); Guatemala (3.3%); Haiti (0%); Honduras (3.3%); Nicaragua (2.1%); Panama (4.2%); and the Dominican Republic (4.7%).

Finally, the region of Caribbean, the following growth is expected: Antigua and Barbuda (7.8%); Bahamas (4.1%); Barbados (3.5%); Belize (2.0); Dominican (3.5%); Pomegranate (3.6%); Jamaican (3%); Saint Vincent and the Grenadines (3.7%); Saint Lucia (5.9%); Suriname (2.4%); Trinidad and Tobago (2%).