Elias Gelay

Elias Gelay is an esteemed economist and the president of Cadiem Casa de Bolsa, known for his insights into the dynamics of currency exchange rates in Paraguay. Recently, he was in the news discussing the fluctuations of the US dollar against the Paraguayan guaraní, explaining how various local market factors contributed to an atypical rise in exchange rates during the first half of the year, followed by a significant drop in July. Gelay highlighted the influence of commercial deficits and currency liquidity on these changes, emphasizing the need to monitor the actions of the Central Bank of Paraguay in response to ongoing economic conditions.