Bolivian Peso

The Bolivian Peso (BOB) is the official currency of Bolivia. The peso is subdivided into 100 centavos. The symbol used for the Bolivian peso is "$b" or "Bs". The first bolivian peso was introduced in 1864 and was equal to eight soles or one hundred centavos. The ISO 4217 code for the bolivian peso is "BOB". The bolivian peso has a history of high inflation. In 1987, the peso was replaced by the boliviano at a rate of 1 boliviano = 1,000 pesos. In 1988, the boliviano was devalued to 1 boliviano = 10,000 pesos. Inflation reached an all-time high in 1996, with the boliviano reaching a value of 7,000,000,000,000 pesos. The boliviano was replaced by the boliviano fuerte in 2007 at a rate of 1 boliviano fuerte = 1,000,000,000,000 pesos. The boliviano fuerte has been relatively stable, with an exchange rate of around 6.9 bolivianos fuertes to 1 US dollar. The bolivian peso is used mainly for domestic transactions, although it is also accepted in some neighboring countries. US dollars are also widely accepted, particularly in tourist areas.