BOLIVIA

(BOB) Currency News >>

CURRENCY:

Boliviano - BOB, Symbol Bs

DENOMINATIONS:

NOTE: Bs200, 100, 50, 20, 10 and 5

COIN: Bs5, 2 and 1, and 50, 20 and 10 centavos

US DOLLAR ACCEPTED:

Yes, widely. The Boliviano is in fact tied to the US Dollar.

CREDIT/DEBIT CARDS AND ATMS:

Credit cards have limited acceptance in Bolivia - the main providers are accepted at larger shops and restaurants but cash is preferred elsewhere. ATMs are only available in larger towns and cities.

CURRENCY EXCHANGE:

Bureaux de change are known as "casas de camio" in Bolivia, and money can be changed there or at hotels.

TRAVELLER'S CHEQUES:

These are best in US Dollars and Euros but not recommended in Sterling.

BANKING HOURS:

Mon-Fri 0900-1800. There are some banks which open until lunchtime on Saturdays: 0900-1300.

CURRENCY RESTRICTIONS:

There are no import restrictions on local and foreign currency; export restrictions on both local and foreign currency are up to the amounts imported and must be declared.

COUNTRY OVERVIEW:

Bolivia is officially known as the Republic of Bolivia and is situated in South America. It is surrounded by Brazil, Argentina, Paraguay, Chile and Peru. Bolivia gained independence from Spain in 1825. The capital is La Paz, though the constitutional capital is Sucre. The official languages of Bolivia are Spanish, Aymara and Quechua.

POPULATION:

Around 10 million.

ECONOMY:

The economy of Bolivia is not very strong - it has the lowest GDP (Gross Domestic Product) per capita of all the countries in South America. This despite the fact that it is rich in natural resources - it has the second largest natural gas reserves in South America. Bolivia has been affected by the fall in tin prices back in the 1980s, and also the fact that western countries withdrew their financial aid in the 90s. Other elements to the economy include agriculture. National debt has been reduced since Bolivia have been good at keeping up with targets in set by the International Monetary Fund.