Bolivian Dollar Continues to Fall, Trading at Bs 11.77 on Tuesday

The Bolivian dollar in the parallel market is currently trading at a lower rate than the official price set by the Central Bank of Bolivia (BCB). For Tuesday, the BCB has established the official exchange rate at Bs 11.77 per U.S. dollar, marking a gradual decline from its recent peak.

This shift comes as the parallel market rate for the dollar stands at Bs 11.45 for buying and Bs 11.39 for selling. The currency's value had reached a high of Bs 12.15 on Friday, July 31, and has been steadily decreasing since then.

Bolivia recently abandoned its fixed exchange rate system, which had been in place for over 15 years with the dollar pegged at Bs 6.96. The country has now adopted a flexible exchange rate that allows the dollar's value to fluctuate based on market conditions. Under this new framework, the BCB publishes an exchange rate that can vary, moving away from the long-standing fixed parity.