Through the 1990s, inflation has remained under 10% and the economy had grown at an average of 4% until 1999 when a regional economic growth came to a virtual standstill, the default rates at banks rose sharply, as did unemployment, and many companies collapsed throughout the country. The currency, however, has remained stable. The threat of military coups has evaporated and Bolivia’s government is considered one of the most stable in South America. Stability in Bolivia, however, results in great social costs, with unemployment running at 15% and affected by efforts to curtail contraband and the government’s successful efforts to combat cocaine trafficking.
Perhaps the most important economic shift in recent Bolivian history has been the discovery of vast natural gas reserves in Tarija and Santa Cruz that are considered the second largest in South America. The recent shifts in the economy has also resulted in important investments in the electricity and water service sectors, in air, rail and land transportation, and in large-scale soybean cultivation in the area around Santa Cruz. Tourism is also playing an increasingly important role in the economy, bringing important foreign exchange earnings into the country. Important investments have been made in the cities of La Paz, Cochabamba, Santa Cruz and Sucre.
Money: The Bolivian currency is the Boliviano, and its symbol is Bs. Bills come in denominations of 5, 10, 20, 50, 100 and 200 bolivianos; in coins of 1, 2 and 5 bolivianos, and in 10, 20, and 50 bolivian cents. There are banks and exchange booths within the airport where you can exchange your currency for bolivianos. Remember, when you receive your exchanged money, make sure that the transaction was done correctly. The dollar is welcome within Bolivia, but you should be careful with the variations of the dollar value throughout the country. When you receive cash, dollars or bolivianos, be sure that the bills you have are in a good condition, in their entirety, and without any writing on them. Also be careful with counterfeit money that could be circulating within Bolivia.
Automatic Teller Machines (ATM) You can find them in Bolivia's main cities. Credit cards The most widely accepted ones in Bolivia are American Express, Visa, and Master Card. Money exchange Foreign currencies, in cash and travelers checks, can be exchanged in banks, "casas de cambio" (exchange booths or stores) and hotels. The majority of transactions that take place are with American dollars, although in some places transactions are also done with less common foreign currency.
Banking Hours Mon-Fri 09:00-16:00. Some banks open Sat 09:00-13:00.
Through the 1990s, inflation has remained under 10% and the economy had grown at an average of 4% until 1999 when a regional economic growth came to a virtual standstill, the default rates at banks rose sharply, as did unemployment, and many companies collapsed throughout the country. The currency, however, has remained stable. The threat of military coups has evaporated and Bolivia’s government is considered one of the most stable in South America. Stability in Bolivia, however, results in great social costs, with unemployment running at 15% and affected by efforts to curtail contraband and the government’s successful efforts to combat cocaine trafficking.
Perhaps the most important economic shift in recent Bolivian history has been the discovery of vast natural gas reserves in Tarija and Santa Cruz that are considered the second largest in South America. The recent shifts in the economy has also resulted in important investments in the electricity and water service sectors, in air, rail and land transportation, and in large-scale soybean cultivation in the area around Santa Cruz. Tourism is also playing an increasingly important role in the economy, bringing important foreign exchange earnings into the country. Important investments have been made in the cities of La Paz, Cochabamba, Santa Cruz and Sucre.
Money: The Bolivian currency is the Boliviano, and its symbol is Bs. Bills come in denominations of 5, 10, 20, 50, 100 and 200 bolivianos; in coins of 1, 2 and 5 bolivianos, and in 10, 20, and 50 bolivian cents. There are banks and exchange booths within the airport where you can exchange your currency for bolivianos. Remember, when you receive your exchanged money, make sure that the transaction was done correctly. The dollar is welcome within Bolivia, but you should be careful with the variations of the dollar value throughout the country. When you receive cash, dollars or bolivianos, be sure that the bills you have are in a good condition, in their entirety, and without any writing on them. Also be careful with counterfeit money that could be circulating within Bolivia.
Automatic Teller Machines (ATM)
Banking Hours
