The official currency of Bolivia is the Bolivian Boliviano (BOB), abbreviated as “Bs.” It is universally accepted for all financial transactions. Understanding and using the Boliviano is essential for travelers.
The Bolivian Boliviano
The Bolivian Boliviano (BOB) is subdivided into 100 centavos. While centavo coins are part of the currency system, they are less frequently encountered in everyday transactions. The current boliviano was introduced in 1987, replacing the prior Bolivian Peso, and has demonstrated relative stability.
Banknotes are available in denominations of 10, 20, 50, 100, and 200 bolivianos. Coins circulate in values of 10, 20, and 50 centavos, alongside 1, 2, and 5 bolivianos. Newer banknotes, introduced starting April 2018, feature updated designs and advanced security features to deter counterfeiting.
Accessing and Using Your Money
Travelers primarily obtain Bolivian Bolivianos through currency exchange or ATM withdrawals. The U.S. dollar is widely accepted for exchange at banks and official exchange houses, known as “casas de cambio.”
ATMs are available, particularly in larger cities, and generally accept major international card networks like Visa and Mastercard. Transaction fees can apply from both the local ATM operator and your home bank. Inform your bank about travel plans to prevent card suspension due to unusual activity.
Credit and debit cards are accepted in larger establishments like hotels, upscale restaurants, and major supermarkets. However, many smaller businesses, local markets, and street vendors operate exclusively on a cash-only basis. Unofficial exchange options carry significant risks, including counterfeit currency or theft, making official channels safer.
Essential Financial Travel Tips
Carrying smaller Bolivian Boliviano denominations, such as 10, 20, and 50 Bs banknotes, is highly recommended. These notes facilitate transactions with street vendors, local markets, and for minor purchases where larger bills might be difficult to break. Many smaller businesses may not have sufficient change for high-value notes.
Keep cash and cards in separate, secure locations, utilizing hotel safes for larger sums or spare cards. When using ATMs, be aware of your surroundings and choose machines in well-lit, public areas or inside bank branches during business hours. Budgeting for daily expenses primarily in cash is practical, given the prevalence of cash transactions outside major tourist-oriented businesses.
Tipping etiquette in Bolivia is generally modest. In restaurants, a tip of 5-10% is customary if a service charge is not already included. For taxi drivers, rounding up the fare is common, while small gratuities for hotel staff, tour guides, and porters are appreciated.