Bolivia's Currency: What You Need To Know

Bolivia is a landlocked country in South America with a rich history and diverse culture. The official currency of Bolivia is the Bolivian boliviano, which has been in use since 1987, though previous versions of the currency existed from 1864 to 1963. The boliviano is divided into 100 cents or centavos, with coins available in denominations of 10, 20, and 50 centavos, as well as 1, 2, and 5 bolivianos. Banknotes are issued in values of 10, 20, 50, 100, and 200 bolivianos. Bolivia's central bank, the Banco Central de Bolivia, manages the issuance of the currency and has maintained a stable exchange rate of approximately 6.9 bolivianos per US dollar since 2012.

The current currency of Bolivia is the boliviano

The boliviano is issued and managed by Bolivia's central bank, the Banco Central de Bolivia, which produces the currency in both coin and banknote form. The coins are available in denominations of 10, 20, and 50 centavos, as well as 1, 2, and 5 bolivianos. The banknotes come in denominations of 10, 20, 50, 100, and 200 bolivianos.

Bolivia is a cash-focused economy, with most locals using boliviano coins and banknotes for regular transactions. While cards and internet payments are accepted at many tourist attractions, it is recommended to carry cash when visiting more remote areas of the country.

The inscription on one side of the boliviano coins reads, "La union es la Fuerza" ("Union is strength" in Spanish), while the other side reads "Estado Plurinacional de Bolivia" (Plurinational State of Bolivia).

The boliviano was awarded "the best banknote in Latin America" and was recognised for its security measures, aesthetics, and inclusion of prominent figures in Bolivian history.

The boliviano was also the name of Bolivia's currency from 1864 to 1963

The boliviano is the national currency of Bolivia. The current iteration of the currency, also known as the second boliviano, was introduced in 1987. However, the name boliviano was also used for the country's currency between 1864 and 1963.

The first boliviano was introduced in 1864, replacing the Bolivian scudo. At the time, the currency was pegged to the French franc at an exchange rate of 5 francs to 1 boliviano. In 1908, Bolivia adopted the gold standard, changing the peg to 12.5 bolivianos to 1 British pound. From 1928 to 1938, the boliviano underwent a period of devaluation against the pound, and by the end of this period, the exchange rate had increased to 160 bolivianos per pound.

In 1940, the Bolivian government began accepting multiple exchange rates between the boliviano and the US dollar. However, by 1963, the boliviano had resumed its devaluation, prompting the government to replace it with a new currency, the peso boliviano. The peso boliviano was worth 1,000 first bolivianos, and it circulated from 1963 to 1986.

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.

The boliviano is divided into 100 centavos

The boliviano is the official currency of Bolivia. It is divided into 100 subunits called centavos. In Spanish, centavos are referred to as cents. The boliviano was also the name of Bolivia's currency between 1864 and 1963. The current version of the boliviano was introduced in 1987, replacing the peso boliviano due to continuous inflationary pressures.

Boliviano coins are available in denominations of 10, 20, and 50 centavos. There are also larger coins valued at one, two, and five bolivianos. The Banco Central de Bolivia issues and manages the currency, which is available in both coin and banknote form.

The banknote denominations include 10, 20, 50, 100, and 200 bolivianos. The 2 and 5 bolivianos bills are no longer in circulation as of 2013. The 2 boliviano coin has been minted in two different sizes, both of which are still legal tender. The smaller 2 boliviano coin is similar to the 1 boliviano coin in appearance, so it is important to distinguish between the two values.

The inscription on the obverse of all the coins in Bolivia is "La union es la Fuerza," which translates to "Union is strength" in English. The reverse side of the older coins features the coat of arms of Bolivia with the inscription "Republica de Bolivia" (Republic of Bolivia). In contrast, the newer coins have the inscription "Estado Plurinacional de Bolivia" (Plurinational State of Bolivia).

The current boliviano was introduced in 1987

The current boliviano, also known as the second boliviano, was introduced in 1987. It is the most recent in a series of Bolivian currencies to carry that name. The first boliviano was in use from 1864 to 1963.

The second boliviano was introduced at a rate of 1 boliviano = 1,000,000 pesos bolivianos. This was due to rampant inflation, which had rendered the peso boliviano worthless. At the time of the switch, 1 US dollar was worth 1.8-1.9 million pesos. The new boliviano was roughly equivalent to the dollar.

In 1988, the year following its introduction, stainless-steel 2, 5, 10, 20 and 50 centavo coins were introduced, along with 1 and 2 boliviano coins. The 5 boliviano coin was introduced in 2001.

The second boliviano has been relatively stable since its introduction. The Banco Central de Bolivia has allowed the currency to float freely against others since 1987. The government has also targeted inflation through partial privatisation of public-sector businesses and legislative policymaking designed to promote private investment.

The boliviano is a stable currency

The boliviano is the official currency of Bolivia and has been since 1864, with the current version of the currency being introduced in 1987. The boliviano is often denoted with the symbol 'Bs' and has the ISO 4217 code 'BOB'.

The currency is highly stable, with the Central Bank of Bolivia maintaining a fixed exchange rate of 6.86 bolivianos per US dollar for buying and 6.96 per US dollar for selling since 2011. This has had significant effects on the country's economy, though the precise nature of these effects is not well understood. The COVID-19 pandemic and international affairs have caused higher levels of inflation in many parts of the world, but Bolivia has maintained low inflation rates throughout this period.

The Bolivian economy has been steadily growing, with its per-capita GDP, in terms of purchasing power parity, increasing from around $4,800 in 2008 to over $9,000 in 2019. Bolivia has also experienced a shortage of US dollars since 2023, leading to the emergence of a "parallel" dollar on the streets and in some exchange houses, with an exchange rate of 8.90 bolivianos per US dollar. Despite this, the Central Bank of Bolivia has continued to sell dollars at the official price.

The boliviano is issued and managed by the Banco Central de Bolivia, which distributes the currency in both coin and banknote form. One boliviano is made up of 100 subunits called centavos, with coins available in denominations of 10, 20, and 50 centavos, as well as 1, 2, and 5 bolivianos. Banknotes are available in denominations of 10, 20, 50, 100, and 200 bolivianos.

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