Business and Economy
El Salvador Bitcoins: A Nation’s Journey into Digital Currency
El Salvador continues investing in Bitcoin. As of December 2, 2024, El Salvador possesses 5,951.77 Bitcoins, valued at $569,601,919 million dollars, equivalent to $95,703 per Bitcoin. President Nayib Bukele’s unprecedented decision to make Bitcoin a legal tender in El Salvador in 2021 sparked intense discussions globally, reshaping perceptions of Bitcoin … Read more
El Salvador Credit Ratings: Moody’s Upgrades El Salvador’s Rating to B3 With a Stable Outlook
On Tuesday, November 26, the credit rating agency Moody raised El Salvador’s credit rating to B3 from Caa1, with a stable outlook. Moody’s B3 rating reflects El Salvador’s moderate economic strength. It cites improved growth and investment prospects due to structural security improvements and a significant boost in government liquidity, … Read more
El Salvador’s Basic Food Basket Drops to $245.74 in October: The Lowest Point of the Year
As of October 2024, the cost of El Salvador’s basic food basket is $245.74 per family in urban areas and $175.34 in the rural sector, representing the lowest prices of the year for both sectors. This essential food cost is set using a family of 3.73 members for urban and … Read more
Crypto Wallet Remittances to El Salvador in 2024 Are Up 1.16% Compared to 2023
As of October 2024, cryptocurrency wallet remittances to El Salvador are up 1.16% compared to the same period in 2023. According to the Central Reserve Bank of El Salvador (BCR), remittances to El Salvador via crypto wallets in 2024 total $71.71 million. The figures from the Salvadoran Reserve Bank indicate … Read more
As of October 2024, Salvadoran Exports Are Down 1.86% Equal to -$103.31 Million
From January to October 2024, El Salvador has exported $5,442.52 million in products, a decrease of $103.31 million, or 1.86%, compared to the same period in 2023. The latest report by the Salvadoran Reserve Bank (BCR) shows that the country exported $582.32 million worth of products in October of this … Read more