Bolivian Boliviano

Bob is the nickname for the Bolivian boliviano, the official currency of Bolivia. It is subdivided into 100 centavos. The boliviano was introduced in 1987, replacing the peso boliviano at a rate of 1 boliviano = 10,000 pesos bolivianos. The boliviano is named after Simón Bolívar, the leader of Bolivia's independence movement. The boliviano has been relatively stable, with an exchange rate of around 6.9 bolivianos to the US dollar since 2007. However, like many other currencies in South America, it has been impacted by the global economic crisis, and the boliviano has lost around 15% of its value against the US dollar since 2013. The boliviano is used not only in Bolivia, but also in the neighbouring countries of Argentina, Chile, Paraguay and Peru. In these countries, the currency is often referred to simply as the "bolivar", without the "iano" suffix. The boliviano is a freely convertible currency, and there are no restrictions on its use or exchange.