Bolivian Currency: What's In A Name?

The official currency of Bolivia is the Bolivian boliviano, often abbreviated to Bs or BOB. The currency is divided into 100 centavos (or cents) and is issued and managed by Bolivia's central bank, the Banco Central de Bolivia. The current form of the currency emerged in 1987, but previous versions of the boliviano have existed since 1864.

The official currency of Bolivia is the Bolivian boliviano, often abbreviated to Bs or BOB

The history of the Bolivian boliviano is a little confusing, as several different currencies have shared the same name. The first boliviano was introduced in 1864, replacing the Bolivian scudo at a rate of 1 boliviano to 0.5 scudi. This initial version of the currency was pegged to the French franc at a rate of 5 francs to 1 boliviano. However, in 1908, Bolivia adopted the gold standard, instead pegging the currency to the British pound at a rate of 12.5 bolivianos to 1 pound.

The boliviano underwent a period of devaluation against the pound between 1928 and 1938, with the peg rate increasing to 160 bolivianos per pound by the end of this period. In 1940, the Bolivian government began accepting multiple exchange rates between the boliviano and the US dollar. Unfortunately, the currency continued to devalue, and by 1963, the government replaced it with a new currency: the peso boliviano.

The modern boliviano was introduced in 1987, replacing the peso boliviano at a rate of 1 million new bolivianos per peso boliviano. This new version of the currency was anchored at par with the US dollar. Since then, the central bank has allowed the boliviano to float freely against other currencies.

Currently, coins are available in denominations of 10, 20, and 50 centavos, as well as larger coins valued at 1, 2, and 5 bolivianos. Banknotes are available in denominations of 10, 20, 50, 100, and 200 bolivianos. The exchange rate of the boliviano to the US dollar has remained quite stable for several years, with 1 USD worth approximately 6.9 BOB.

1 boliviano is made up of 100 centavos (cents)

The official currency of Bolivia is the boliviano, often abbreviated to Bs or BOB. One boliviano is made up of 100 centavos (cents). The currency has been in use since 1864, although the current version was introduced in 1987. The boliviano is issued and managed by Bolivia's central bank, the Banco Central de Bolivia, which offers the currency in both coin and banknote form.

Boliviano coins are available in denominations of 10, 20, and 50 centavos. There are also larger coins valued at one, two, and five bolivianos in use. Banknotes are available in denominations of 10, 20, 50, 100, and 200 bolivianos.

The boliviano was also the name of the country's currency between 1864 and 1963. In 1963, due to continuous inflationary pressures, the currency was replaced by the peso boliviano, which was worth 1,000 first bolivianos. However, the peso boliviano also suffered from inflation, and in 1987, it was replaced by the modern boliviano, with one million peso bolivianos equalling one new boliviano.

The boliviano has been a relatively stable currency, with its value held at 6.9 bolivianos per US dollar since 2012. Bolivia's economy has also grown steadily, with its per-capita GDP, in terms of purchasing power parity, increasing from around $4,800 in 2008 to over $9,000 in 2023.

Coins are available in denominations of 10, 20, and 50 centavos, as well as 1, 2, and 5 bolivianos

The official currency of Bolivia is the boliviano, denoted by Bs or BOB. One boliviano is made up of 100 subunits called centavos.

Boliviano coins are available in the following denominations:

• 10 centavos
• 20 centavos
• 50 centavos
• 1 boliviano
• 2 bolivianos
• 5 bolivianos

The coins feature inscriptions in Spanish that showcase Bolivia's history and values. "La union es la fuerza" ("Unity is strength") is inscribed on the obverse of the coins, while "Estado Plurinacional de Bolivia" ("Plurinational State of Bolivia") is inscribed on the reverse, along with the coat of arms of Bolivia.

The boliviano coins were introduced in 1987, along with the current version of the currency. However, the name boliviano has been used for the country's currency since 1864, with several different currencies bearing the same name. The previous version of the boliviano was replaced due to continuous inflationary pressures.

The boliviano coins are issued and managed by Bolivia's central bank, the Banco Central de Bolivia, which is responsible for disseminating the currency in both coin and banknote formats.

Banknotes are available in denominations of 10, 20, 50, 100, and 200 bolivianos

The boliviano is the official currency of Bolivia, denoted by the symbol Bs and the ISO code BOB. One boliviano is made up of 100 subunits, called centavos.

Boliviano coins are available in denominations of 10, 20, and 50 centavos. There are also larger coins valued at one, two, and five bolivianos in use.

The current form of the boliviano was introduced in 1987, but previous variations of the currency have existed since 1864. The boliviano replaced the peso boliviano, which was in circulation from 1963 to 1986. The peso boliviano itself replaced the first boliviano, which was the currency of Bolivia from 1864 to 1963.

The 10 Bs note was the first to be introduced in the new family of banknotes of the Plurinational State of Bolivia, with the 200 Bs note following in April 2019. These new banknotes feature prominent figures in Bolivian history and showcase the country's multiculturalism.

The exchange rate of the boliviano to the US dollar has remained stable for several years, with 1 USD worth approximately 6.9 BOB.

Bolivia is a cash-focused economy, and while cards and internet payments are accepted in many tourist attractions, locals predominantly use boliviano coins and banknotes for transactions. ATMs are available in major cities and some small towns, but it is recommended to carry local currency in cash when visiting remote areas.

It is difficult to obtain bolivianos outside of Bolivia and its neighbouring countries

The official currency of Bolivia is the Bolivian boliviano, often abbreviated to Bs or BOB. It's a very stable currency, with a fixed exchange rate of 1 US dollar to 6.86–6.96 Bs since 2011. However, it can be difficult to obtain bolivianos outside of Bolivia and its neighbouring countries.

Firstly, the boliviano is not a popular currency outside of Bolivia and its neighbouring countries, so it may be hard to find. Secondly, if you do find a bureau de change that offers bolivianos, the exchange rate is likely to be poor. It's generally recommended that you avoid buying bolivianos in your home country and wait until you arrive in Bolivia to exchange your money.

ATMs are available in Bolivia's major cities and towns, but they are less common in smaller towns and villages. It's also worth noting that some ATMs in Bolivia only accept 4-digit PINs, so it's a good idea to check that your card has a 4-digit PIN before you travel.

If you plan to use a credit or debit card in Bolivia, it's important to let your bank know in advance that you will be travelling, so they don't freeze your card. You should also ask about any foreign currency conversion fees and international ATM fees that may apply. Some banks charge a fee for each international withdrawal, as well as a fee for using an out-of-network ATM and a conversion fee.

In summary, while it may be possible to obtain bolivianos outside of Bolivia and its neighbouring countries, it is likely to be difficult and the exchange rate is likely to be unfavourable. Therefore, it is generally recommended to wait until you arrive in Bolivia to exchange your money or withdraw bolivianos from an ATM.

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