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Bolivia to introduce new high-denomination note in new series

Categories : Cash is efficient
May 16, 2016
Tags : Bolivia, Central Bank, Denomination mix, Efficiency, Innovation, Usage
Going against the current trend of sacking high denomination notes, Bolivia will add a Bs500 to the new series, scheduled for 2018.
Communication Team / Equipo de Comunicación

In contrast to the current trend of sacking high denomination notes, Bolivia has announced that it will add a 500 Bolivian Boliviano (Bs) to the new banknote series, scheduled to be progressively introduced early 2018.

During a May 5th press conference, Marcelo Zabalaga Estrada, President of the Central Bank of Bolivia (BCB), stated that the country’s steady economic growth since the late 1980s – when the current series was launched – requires the introduction of a higher-denomination note. This decision was taken after a true need for financing larger transactions was identified in different sectors of the economy.

Modernising the Boliviano will also respond to the following needs:

  1. Fight against the increase of counterfeit notes by integrating the latest banknote security technologies
  2. Modernise a series that has been in circulation for 30 years – largely exceeding the recommended timeframe of 10 to 20 years
  3. Illustrate important national figures, places of cultural heritage and images of threatened or almost extinct flora and fauna
  4. Incorporate tactile elements to assist the blind and visually-impaired

The new series will maintain the current colour tones to facilitate the transition and will consist of six denominations (Bs10, Bs20, Bs50, Bs100, Bs200 and Bs500).

To ensure that the entire population is comfortable with the new series and aware of the different security features, the launch will be accompanied by a nationwide communication campaign.

To read the BCB’s original press release[in Spanish], please click here.