What is Bob (Bolivian Boliviano)’
The Bolivian boliviano is the currency of Bolivia, and in the currency markets, it is the acronym Bob.
Breaking Bob (Bolivian Boliviano)’
The Bolivian boliviano is divided into 100 centavos. The Central Bank of Bolivia, BANCO Central de Bolivia, the resolution on the issuance of currency and performs the monetary policy at the Federal level. Although currency boliviano named existed in the country since 1864, the current iteration is its second incarnation and 1987.
Total cross deals with the participation of Bolivian boliviano include leading international and Latin American regional currencies.
The Story Of Bob
When first introduced in 1864, the boliviano replaced the Bolivian Scudo at a rate of 1 boliviano to 0.5 Bolivia scudos. At that time, the boliviano was pegged to the French Franc at the rate of 5 francs to 1 boliviano. In 1908, Bolivia refused to peg the franc to move to the Gold standard, the currency is pegged at 12.5 bolivianos to 1 British pound. Bob underwent a series of devaluations against the pound between 1928 and 1938, at which point the rate increased to 160 bolivianos per 1 British pound.
In 1940, the government began to accept several currencies against the U.S. dollar. By 1963, however, the government responded to the continued devaluation of the boliviano, replacing it with peso boliviano (BOP) at the rate of 1000 to 1. Continued severe inflation pressure brought Bolivia replaced the peso boliviano boliviano with the second in 1987, representing it as about on par with the dollar, or 1 million Bolivian boliviano per 1 peso boliviano.
Since 1987, the Central Bank allowed the boliviano to float freely against other currencies. The government has also targetirovat inflation since that time, through the partial privatization of the state sector, business and legislative policy designed to promote private investment. Since 2008, the value of the boliviano was held relatively stable against the US dollar in the range between about 6.7 and 6.9 bolivianos per 1 US dollar. At the same time, inflation will gradually come under control and remains under 10% in 2012.
The Economy Of Bolivia
Economists generally believe the economy of Bolivia has been steadily improving in recent years, although the world Bank continues to classify it as below average income. The main agricultural export include cocaine, soybeans, cotton, coffee and sugar cane. Mining remains a cornerstone of the economy, with significant extraction of natural resources including gas, gold, silver, tin and zinc. The country also has large deposits of lithium, currently a high demand for batteries used in electronic devices and hybrid cars.