First Boliviano
The first boliviano was introduced in 1864. It was equivalent to eight soles or half a scudo in the former currency. Initially, it was subdivided into 100 centécimos but this was altered to centavos in 1870. The name bolivar was used for an amount of ten bolivianos.
The boliviano was initially pegged at a rate of 1 boliviano = 5 French francs. On December 31, 1908, the currency was put on a new gold standard, with 12½ bolivianos = 1 British pound. A series of devaluations relative to the pound followed:
| Pegs of the boliviano to the pound | |
|---|---|
| Date introduced | Peg |
| July 11, 1928 | 13.5 |
| May 1932 | 17 |
| February 20, 1933 | 20 |
| April 1, 1936 | 50 |
| June 14, 1936 | 80 |
| July 29, 1937 | 120 |
| June 20, 1938 | 141 |
| September 5, 1939 | 160 |
In 1940, multiple exchange rates to the U.S. dollar were established (40 and 55 bolivianos = 1 dollar). However, the boliviano continued to fall in value. In 1963, it was replaced by the peso boliviano (ISO 4217: BOP) at a rate of one thousand to one.
Read more about this topic: Bolivian Boliviano