Bolivia’s demand for US dollars reduced by 30% with introduction of yuan in foreign trade

One month after the signing of the agreement between China and Bolivia to optimise cooperation between the Industrial and Commercial Bank of China (ICBC) and Banco Unión de Bolivia and trade directly in their currencies of origin, Chinese yuan and Bolivian pesos, the first positive repercussions on the Bolivian economy are already being observed – a 30% reduction in demand for US dollars in foreign trade. The prospects are to expand the exchange, as well as to include other international currencies. In recent months, the Bolivian government has implemented several strategies to mitigate the lack of dollars in the local […] #Asia #Government #SouthAmerica
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