US Dollar Continues to Climb in Bolivia, Nearing Bs 11

The US dollar continues its upward trend against the Bolivian Boliviano, with the exchange rate approaching Bs 11. For Saturday, July 17, the dollar is set to be quoted at Bs 10.85, according to the Central Bank of Bolivia (BCB). This marks a significant increase since the BCB introduced a new exchange rate system on June 29. At that time, the US dollar was valued at Bs 9.73. By Thursday, July 16, it had climbed to Bs 10.75, representing an increase of 97 cents in just over two weeks.

The new system replaced a fixed exchange rate of Bs 6.96 per dollar, which had been in place for over a decade. The current mechanism allows the Central Bank to publish a daily reference rate for banks and exchange houses. This change enables the dollar's value to more accurately and rapidly reflect prevailing market conditions. Data from the BCB indicates a consistent upward trend since the system's inception.

On the first day of the new regime, the exchange rate closed at Bs 9.76. It later rose to Bs 10.24 by July 10. During the current week, the dollar surpassed the Bs 10 threshold, reaching Bs 10.75 and steadily moving closer to the Bs 11 mark. This ongoing appreciation of the dollar highlights the dynamic shifts in Bolivia's currency market.