Bolivia ends dollar peg after 15 years

The Bolivian government has decided to end the 15-year-old policy of maintaining the dollar exchange rate. This move comes amid a severe dollar shortage, which has led to the emergence of a parallel exchange rate reaching up to three times the official rate. The Central Bank has begun trading at a new rate of 9.73 Bolivianos per dollar, which is close to the parallel rate and approximately 40% lower than the previous rate of 6.96 Bolivianos. This step occurs amid an acute economic crisis, accompanied by events such as protests and strikes that have caused shortages of food and fuel. The decision aims to support the economy and attract foreign investment.

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