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The official currency of Bolivia is the Boliviano. It consists of 100 centavos. Its international currency code is BOB and its symbol is Bs.
The boliviano was first introduced in 1864, when it replaced the former currency, the scudo. Until 1908 it was pegged to the French franc at a rate of 5 bolivianos per franc. From 1908 to 1940, it was pegged to the British pound, starting at 12.5 bolivianos per pound. Through a number of government devaluations, this eventually fell to 160 bolivianos per pound in 1939. The currency was then pegged to the USD at varying rates until 1963, when the peso boliviano took over as the official currency at a rate of 1000 ‘old’ bolivianos to one peso boliviano.
Following a multi-decade period of economic instability and severe inflation, the peso boliviano was replaced by the present-day boliviano in 1987. The peso boliviano could be exchanged for the new currency at a rate of 1,000,000 to 1. At its introduction, the new currency had an exchange rate of approximately 1:1 with the USD. This has fell to about 7 BOB per 1 USD in recent years. Bolivian inflation rates in the 2000s have mostly stabilized.