The boliviano is the official currency of Bolivia and was first introduced in November 1986.
Origins and history
Between 1863 and 1963 a first version of the boliviano was the national currency, until it was replaced by the bolivian peso. After that, on 28th November 1986, through the New Economy Policy, Paz Estensoro passed the act for the introduction on the 1st January 1987 of a new official currency, fully convertible: the boliviano. Equaling to 1 million pesos and with a flexible exchange rate to the dollar, after a transition period, now it is the only currency legally accepted since 1st January 1988.
The Central Bank of Bolivia, founded in 1928, is the authority in charge of issuing currency.
Current boliviano coins and banknotes
Today, there are coins of 10, 20 and 50 cents in circulation, and of 1, 2 and 5 bolivianos, which at the obverse bear the inscription: “Unity makes strength” and at the reverse we can see the coat of arms of Bolivia with the inscription “Plurinational State of Bolivia”.
Regarding banknotes, there are 10, 20, 50, 100 and 200 boliviano notes in circulation.
Interesting facts of the boliviano
- In the coins before the year 2000 the word “plurinacional” (plurinational) does not appear on the reverse.
- The 2 boliviano banknote was replaced by the iron coin of 6.25 grams in 1991. Also, the 5 boliviano banknote was replaced by the bimetallic coin in 2001.