March 4, 2023, 9:22 PM
March 4, 2023, 9:22 PM
The Demand for dollars has “a fairly significant decline” and it is returning to normality, so it is shown that “this was not real”, because if it had been, the demand would be maintained or increased, said the vice minister of Pensions and Financial Services, Ivette Espinoza.
“We believe that people have realized that this was not real, that the exchange rate will be maintained, and before any requirement, for any type of operation that is wanted in dollars, there are the dollars”, he stated on Bolivia TV.
Espinoza explained that between the On March 1 and 2, a decrease in demand was reported of the foreign currency.
The Central Bank of Bolivia (BCB) reported that the bank has $240 million to meet the over-demand for the dollar in recent days, he also reaffirmed that the exchange rate in Bolivia will remain unchanged and those who are buying “expensive” dollars, as a result of speculation derived from rumors, will lose money.
The exchange rate has been maintained at Bs 6.96 for sale and Bs 6.86 for purchase since 2011. The last time the exchange rate moved was on November 2, 2011, when the national currency appreciated from Bs 6.97 to 6.96 for sale and from Bs 6.87 to 6.86 for purchase for every US dollar.
However, last month the BCB announced the purchase of dollars from exporters at a differentiated price of Bs 6.95 per dollar, arguing “support for the sector” at a time when Net International Reserves reached their lowest level in decades. . As of February 8, 2023, the date of the last updatethe NIR were at $3,538 million, of which $372 million are foreign currency.
