BOB stands for Bolivian Boliviano.
|Full Form||Bolivian Boliviano|
|Category||Regional » Currencies|
What is BOB?
Bolivian Boliviano is the national currency of Bolivia. The currency is subdivided into 100 centavos.
BOB is also the name of the country’s primary export: natural gas. Bolivia is the world’s second largest producer of natural gas, after Russia. In fact, Bolivia accounts for more than one-third of all the natural gas produced in Latin America.
The Bolivian Boliviano has been around since 2005. Prior to that, there were several different currencies used in Bolivia, including the Sucre (from 1825-1946), the Chaco (1946-1955), and the New Peso (1955-1965).
The boliviano was initially pegged to the US dollar at a rate of 2,000 bolivianos to 1 US dollar. However, over time, the boliviano began to lose value against other currencies. As a result, in 2003, Bolivia decided to peg the boliviano to the Brazilian real. This peg was maintained until 2005.
In 2006, Bolivia began issuing its own banknotes. These notes were denominated in BOB and were not pegged to any other currency. The first batch of notes consisted of 100