How can I get the best exchange rate between US dollar and Bolivian Boliviano?
Depending on whether you are planning to send money to someone in Bolivia or planning a trip to the country, there are different options available for exchanging your US dollars to Bolivian bolivianos.
If you’re traveling to Bolivia, bringing a debit card and withdrawing cash is an inexpensive option if you’re card waives international ATM fees. Other options include traditional money changers that will exchange US dollars for Bolivian bolivianos or exchanging cash in the bank — this may be pricier.
Online money transfer services are often the best option for sending money to someone in Bolivia. These services usually offer lower fees and better exchange rates than banks and they also process your transaction faster.
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
Sub unit symbol:
$1, $5, $10, $20, $50, $100
1c, 5c, 10c, 25c, 50c
The boliviano is the official currency of Bolivia, a South American country boasting more than 30 official languages and 36 native cultures. Bolivia is named after Simon Bolivar, a leader in the Spanish American wars of independence.
Sub unit symbol:
Bs. 10, 20, 50, 100, 200
10Cvs, 20Cvs, 50Cvs; Bs. 1, 2, 5
What affects exchange rates between the US dollar and Bolivian boliviano?
Today, the Bolivian boliviano is a free-floating currency. That means that the exchange rate of this currency with the US dollar depends on the supply and demand of both currencies. Also, the factors that determine the supply and demand of US dollar and Bolivian boliviano are not just limited to Bolivia and the United States, but can be determined by events anywhere in the world.
Economic and political developments in Bolivia are an important factor for the exchange rate. Although economic development in Bolivia is improving, it happens at a fairly slow pace. If the political situation in Bolivia stabilizes, the exchange rate of the boliviano compared to the US dollar will likely go up.
Higher interest rates in either Bolivia or the United States also affect exchange rates. If Bolivia raised its interest rates, more investors would be interested in putting bolivianos into local Bolivian banks, thus increasing the demand for bolivianos. Similarly, lower interest rates in Bolivia leads to a lower exchange rate for the Bolivian boliviano.
Send money from USD to BOB
How does the Bolivian boliviano trade against the US dollar historically?
The Bolivian boliviano replaced the Bolivian peso in 1987 in an attempt to counter inflation. At that time, one boliviano was equal to one US dollar. When the new boliviano replaced the old peso in 1987, Bolivia had for years suffered under uncontrollable inflation. The new currency was introduced at a rate of one million pesos to one boliviano.
Today, one Bolivian boliviano is worth just 0.145 US dollar. The country lacks a modern, well-developed capital market and inflation has been a big problem over the past couple of decades.
In recent years, the Bolivian government has chosen to follow a “strong currency” policy, meaning the priority of the central bank is to maintain a strong exchange rate between the Bolivian boliviano and other currencies, mainly the US dollar. Although this policy has proved to be damaging for the country’s export sector, it will likely remain in place since it is very popular in the Bolivian population. A strong currency means that imported goods will be cheaper for the local population, while also keeping inflation under control.
US Dollar to the Bolivian Boliviano for the last 10 days
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US Dollar to the Bolivian Boliviano for the last 10 months
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US Dollar to the Bolivian Boliviano for the last 10 years
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Market rate for common transfer amounts USD to BOB
Adrienne Fuller is the head of publishing at Finder. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
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