Bolivia's Parallel Dollar Soars to Record High Amidst Economic Crisis

Bolivia's Parallel Dollar Reaches Record High Amidst Economic Uncertainty LA PAZ, BOLIVIA – The parallel dollar exchange rate in Bolivia surged to a record high of 16.45 Bolivianos (Bs) on Wednesday, May 13, 2025, before experiencing a slight decline. This significant increase reflects the ongoing economic instability in the country, marked by fuel shortages and rising inflation. According to Unitel's report, the parallel dollar, often traded through digital platforms like VaInna, reached its peak in the morning, settling at Bs 16.11 for purchases and Bs 16.04 for sales. In contrast, the official exchange rate remained relatively stable at Bs 6.96 for purchases and Bs 6.86 for sales. "The rise in the parallel dollar is directly linked to the current economic climate," explained Gabriela Oviedo, Unitel presenter. "Fuel shortages and rampant inflation are creating uncertainty and driving demand for the US dollar in the informal market." The government has dismissed concerns about adjusting the official exchange rate, arguing it serves as an anti-inflationary anchor. However, the continued volatility in the parallel market highlights the challenges facing the Bolivian economy and the growing reliance on informal exchange methods. The situation underscores the need for comprehensive economic policies to address the root causes of inflation and fuel shortages, ensuring greater stability for the Bolivian population.