devaluation of the Bolivian currency. The bank has stated that this is not the case and that the Bolivian currency remains stable.
The move comes after a rise in demand for foreign currency in Bolivia, which has been caused by several factors. One of the main reasons is the political uncertainty in the country, which has led to a lack of confidence in the Bolivian currency. Additionally, the COVID-19 pandemic has had a significant impact on the economy, leading to a decrease in exports and a reduction in foreign investment.
The Central Bank of Bolivia hopes that by selling dollars directly to citizens, it will be able to stabilize the market and prevent further speculation. The bank has stated that it will sell up to $20,000 per person per year, and that the exchange rate will be set at a rate that is competitive with the traditional currency exchange market.
The move has been welcomed by many in Bolivia, who see it as a positive step towards stabilizing the economy. However, some have criticized the move, arguing that it could lead to a black market for dollars and that it may not be enough to address the underlying issues that are causing the rise in demand for foreign currency.
Despite these concerns, the Central Bank of Bolivia remains committed to its plan to sell dollars directly to citizens. It hopes that this measure will help to restore confidence in the Bolivian currency and stabilize the market in the long term.
