The first Bolivian boliviano was the currency of Bolivia from 1864 to 1963.
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. Due to rising inflation, it was replaced with the Bolivian peso in 1963 at an exchange rate of 1,000 bolivianos to 1 peso. The peso was later replaced by the second Bolivian boliviano. |