Exploring The Intricacies Of Bolivian Dollars

The boliviano is the official currency of Bolivia and is divided into 100 cents or centavos in Spanish. The currency code for the Bolivian boliviano is BOB, and the currency symbol is $b. The boliviano was also the name of the currency of Bolivia between 1864 and 1963. The current boliviano was introduced in 1987, replacing the peso boliviano, which had been in use since 1963. As of October 2024, 1 BOB is worth approximately 0.144665 USD.

Current BOB exchange rates

The boliviano (sign: Bs, code: BOB) is the currency of Bolivia. It is divided into 100 cents or centavos in Spanish. As of 30 September 2024, 1 BOB was worth 0.144656 USD.

The currency converter website, XE, provides live tracking and notifications of exchange rates, as well as flexible delivery and payment options.

According to Exchange-Rates.org, the best time to buy Bolivian Bolivianos is any day of the week except for weekends. A good time to buy is typically between 3 PM and 4 PM UTC, as market liquidity in the New York and London exchanges tends to peak at this time.

The Central Bank of Bolivia has, since November 2011, operated a fixed exchange rate regime system, where it buys and sells foreign currency at a price it sets: Bs 6.86 for the purchase and Bs 6.96 for the sale of 1 US dollar.

History of the boliviano

The boliviano is the currency of Bolivia and has been since 1864, with a brief period from 1963 to 1987 when the country adopted the peso boliviano. The name boliviano was also used for the currency between 1864 and 1963. The boliviano is divided into 100 cents or centavos in Spanish.

The history of the boliviano can be divided into two periods: the first boliviano (1864-1963) and the second boliviano (1987-present).

First Boliviano (1864-1963)

The first boliviano was introduced in 1864, replacing the Bolivian sol at a rate of 1 boliviano = 8 soles. The name bolivar was used for an amount of ten bolivianos. The first boliviano was worth eight soles and was divided into 100 centécimos (later centavos).

Peso Boliviano (1963-1986)

In 1963, the first boliviano was replaced by the peso boliviano, with 1 peso boliviano = 1,000 first bolivianos.

Second Boliviano (1987-present)

In 1987, the second boliviano was introduced at a rate of 1 boliviano = 1,000,000 peso bolivianos. This was due to many years of rampant inflation. At the time, 1 new boliviano was roughly equivalent to 1.8/1.9 million peso bolivianos or 1 US dollar.

Exchange Rate

The boliviano has a fixed exchange rate regime, with the Central Bank of Bolivia buying and selling foreign currency at a set price. As of November 2011, the exchange rate has been fixed at 1 USD = 6.86-6.96 BOB. However, in recent years, there has been a shortage of US dollars, leading to the emergence of a "parallel" dollar in the streets and some exchange houses, with an exchange rate of 1 USD = 8.90 BOB.

Coins of the boliviano

The boliviano is the currency of Bolivia, with the currency code BOB. It is divided into 100 cents or centavos in Spanish. The boliviano was also the name of the currency of Bolivia between 1864 and 1963. The first boliviano was worth eight soles and was divided into 100 centécimos (later centavos). The name bolivar was used for an amount of ten bolivianos.

In 1987, the second boliviano was introduced at a rate of 1 boliviano = 1,000,000 pesos bolivianos. This followed many years of rampant inflation, which had rendered the first boliviano practically worthless. The second boliviano was introduced with stainless-steel 2, 5, 10, 20 and 50 centavos and 1 boliviano coins. In 1991, a stainless-steel 2 bolivianos coin was introduced, followed by copper-plated steel 10 centavos in 1997 and bi-metallic 5 bolivianos in 2001. The 2 and 5 centavo coins are no longer in circulation.

The 2 boliviano coin has been minted in two sizes, both of which remain legal tender. The smaller 2 boliviano coin is almost identical to the 1 boliviano coin, the only difference being that the former is undecagonal while the latter is round. All the coins in Bolivia have the inscription "La union es la Fuerza" ("Union is strength" in Spanish) on the obverse. Older coins feature the coat of arms of Bolivia with the inscription "Republica de Bolivia" (Republic of Bolivia) on the reverse, while newer ones feature the coat of arms with the inscription "Estado Plurinacional de Bolivia" (Plurinational State of Bolivia).

In 2017, a series of four coins with a face value of 2 Bolivianos was issued, with themes related to Bolivia's claims of rights to access the sea. Many Bolivian coins bear 11 stars, representing the country's 10 departments, plus the Litoral province, which was lost to Chile in the 1879 "Pacific War".

Banknotes of the boliviano

The boliviano is the currency of Bolivia. It is divided into 100 cents or centavos in Spanish. The current boliviano is the second iteration of the currency, introduced in 1987 at a rate of 1 boliviano = 1,000,000 pesos bolivianos. This was due to rampant inflation, which saw 1 US dollar worth 1.8-1.9 million pesos.

In 1988, stainless-steel 2, 5, 10, 20 and 50 centavos and 1 boliviano coins were introduced, followed by stainless-steel 2 bolivianos in 1991. Copper-plated steel 10 centavos were introduced in 1997 and bi-metallic 5 bolivianos in 2001. The 2 and 5 centavo coins are no longer in circulation. The 2 boliviano coin has been minted in two sizes, both of which remain legal tender. The smaller 2 boliviano coin is almost the same as the 1 boliviano coin, leading to potential confusion, although the 2 boliviano coins are undecagonal while the 1 boliviano coins are round. All the coins in Bolivia have the value with the inscription "La union es la Fuerza" ("Union is strength" in Spanish) on the obverse. Older coins feature the coat of arms of Bolivia with the inscription "Republica de Bolivia" (Republic of Bolivia) on the reverse, while newer ones feature the coat of arms with the inscription "Estado Plurinacional de Bolivia" (Plurinational State of Bolivia).

In April 2018, the Central Bank of Bolivia announced the introduction of a new family of banknotes of the Plurinational State of Bolivia, starting with the 10 Bs note and ending with the 200 Bs note, presented in April 2019. These new notes were awarded "the best banknotes in Latin America" for their security measures, aesthetics, and inclusion of prominent figures in Bolivian history. They are the first to bear the formal name of Bolivia, "Estado Plurinacional de Bolivia" (Plurinational State of Bolivia), to reflect the multiculturalism of the country and all of its citizens.

The current series of banknotes includes:

• 10 Bolivianos (Umajalanta Cavern; Isla del Pescado)
• 20 Bolivianos (Fort Samaipata; Laguna Bay lake)
• 50 Bolivianos (Inkallajta ruins; Nevado Sajama)
• 100 Bolivianos (National Mint; Rainbow Waterfalls)

The 2018-2019 series of banknotes includes:

• 10 Bolivianos (José Santos Vargas, drum and electrotype)
• 20 Bolivianos (Genoveva Ríos, Tomás Katari and Pedro Ignacio Muiba. El Fuerte de Samaipata)
• 50 Bolivianos (José Manuel Baca "Cañoto", Bruno Racua, Pablo Zárate also known as Willka. Incallajta Fortress)
• 100 Bolivianos (Juana Azurduy de Padilla, Alejo Calatayud, Antonio José de Sucre. National Mint of Bolivia)

Sending money abroad

The currency of Bolivia is the boliviano, often abbreviated to Bs or BOB. The currency code for Bolivian Bolivianos is BOB, and the currency symbol is $b.

There are several options available for sending money to Bolivia from abroad.

Online Transfer Services

Online money transfer services are a popular option for sending money to Bolivia. These services are often faster and cheaper than traditional banks, with lower fees and better exchange rates. Examples of these services include:

• Remitly: Remitly is a fast and highly-rated service, offering transfers to Bolivia in 0-2 days. It has a Trustpilot rating of 4.4.
• XE: XE is a trusted service that allows users to send money to over 60 countries. While it is not the fastest option, taking 2-3 days to transfer money to Bolivia, it does offer competitive exchange rates and fees. XE has a Trustpilot rating of 4.3.
• WorldRemit: This is another fast, low-cost, and secure online money transfer service. WorldRemit is an authorised and regulated money transfer service, with security checks in place to protect your money and personal information.

Banks

Most banks will allow you to send money internationally online, by visiting a branch, or by phone. However, this option can be more expensive and slower than online transfer services, as banks usually process international transfers through the SWIFT network, which involves passing payments through several intermediaries.

Specialist Money Transmitter Services

Specialist money transmitter services operate through large branch and agent networks, allowing you to visit a physical store and make your payment in cash if you prefer.

E-Wallets

E-wallets, such as Revolut, can be used to send money to Bolivia.

Cash Pickup

Sending a payment for cash pickup can be a fast and convenient way to get money to your recipient. However, it is usually one of the most expensive options. Remitly is one provider that offers this service in Bolivia.

Frequently asked questions