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:
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.