Bolivia Abandons Fixed Exchange Rate Scheme After 15 Years, Adopting a Floating Dollar System
Key Takeaways Bolivia floated its dollar rate on June 26, causing a 40% devaluation to stabilize foreign reserves. Past fixed rates caused severe dollar shortages, pushing locals to expand stablecoin proxy markets. Minister Espinoza cut currency interventions, next forcing other business sectors to generate dollars. Bolivia Abandons Fixed Dollar Exchange Rate Regime, Opens To Flotation…