Bolivian peso
The peso boliviano (ISO 4217 code: BOP), divided into 100 "centavos", was the currency of Bolivia from January 1, 1963 until December 31, 1986. It was replaced by the boliviano. The conversion rate was 1,000,000 pesos bolivianos to 1 boliviano. "$b." was the currency symbol for the peso boliviano. History. On December 15, 1959, Bolivia had introduced a comprehensive economic stabilization program that abolished most currency restrictions on the boliviano, which had suffered badly from inflation. The program adopted a fluctuating exchange rate that was finally stabilized in 1962 at 11,875 bolivianos to the US dollar. The  currency reform of January 1, 1963 adopted the peso boliviano, equal to 1,000 bolivianos, with an initial central exchange rate of 11·875 per . But inflation soon returned and the peso boliviano was devalued 39.4% on October 27, 1972, with a new official rate of 20·00 per . This rate was maintained until November 30, 1979, when the peso boliviano was put on a controlled float, initially at . Inflation accelerated. The official rate was devalued February 5, 1982 to 44 per . The average exchange rate was in 1982, in 1983, and in 1984. By September 1985 the US dollar was worth a  million pesos bolivianos on the black market. President Paz Estenssoro announced a free exchange rate for the peso, which was floated on August 29, 1985, resulting in an effective devaluation of 95%. All exchange controls were lifted and the exchange rate was set twice weekly according to supply and demand. Its value continued to fall and by January 1986 the government was setting a new exchange rate daily in an attempt to boost confidence in the economy. After reaching a low of about per , the peso improved and stabilized around per dollar. A new monetary unit, the boliviano, was created  by Law No. 901 of November 28, 1986, and a currency reform was announced December 30, 1986, effective January 1, 1987. This new boliviano replaced the peso boliviano. At 1 boliviano = 1,000,000 pesos bolivianos. Coins. Reform coinage was introduced in 1965 in denominations of 5, 10, 20, and 50 centavos. A 1 peso boliviano coin was introduced in 1968, a 25-centavo coin in 1971, and a 5 peso boliviano coin in 1976. The last peso boliviano-denominated coins were struck in 1980. Paper. Summary. Banknotes denominated in the peso boliviano were released in 1963 in denominations of 1 , 5, 10, 20, 50, and 100. For a time, the denomination in the old boliviano appeared on the back of the notes. A 500 was added to the series in 1981 and a 1000 in 1982. In 1982 the $b.100 was released in a simplified version, without a security thread and with the back lithographed rather than engraved. Fearing that these poorer quality notes were forgeries, people avoided them to such an extent that after a few months Banco Central Bank resumed issuing the older type of 100. As inflation gathered pace, Banco Central introduced "cheques de gerencia" (cashier 's cheques, certified cheques, bank drafts) for 5000 and 10,000 pesos bolivianos in 1982. By the summer of 1983 notes of 1, 5, and 20 were no longer seen in circulation, which consisted of notes for 10, 50, 100, 500, and 1000 pesos bolivianos. Denominations of 5000 and 10,000 appeared sometime later. Hyperinflation left insufficient time to provide for regular banknotes, and 1984-1985 saw Banco Central release the simpler cheques de gerencia for 20,000, 50,000, 100,000, 500,000, 1 million, 5 million, and 10 million pesos bolivianos (printed by four different printers). Regular banknotes for 50,000, and 100,000 also appeared  in circulation. By the spring of 1986 the currency in circulation effectively consisted of cheques de gerencia ranging from 100,000 to 10 million pesos bolivianos and "low" denomination banknotes of 50,000 and 100,000 pesos bolivianos. Banknotes. 1963 emission (authorized July 13, 1962), printed by Thomas de La Rue; unwatermarked; clear security thread with continuous staggered "BOLIVIA" microprinted in black (type 1). The note denomination on the face in pesos bolivianos and on the back in old bolivianos: These notes were modified by eliminating the old boliviano denomination from the backs: 1981-1982 new denominations: a 500 authorized June 1, 1981;a  1000, June 25, 1982: printed by American Bank Note Company; portrait watermark; clear security thread with continuous “BCB” microprinted in black (type 2): printed by Thomas de La Rue; portrait watermark; type 1 security thread: 1982 simplified emission, printed by Thomas de La Rue; back lithographed; no watermark, no thread: 1983 return to familiar security features, printed by Thomas de La Rue; back engraved; no watermark, solid metal security thread 1984 new denominations, authorized February 2, 1984: printed by Bundesdruckerei; portrait watermark; clear security thread with continuous “BANCO CENTRAL DE BOLIVIA” microprinted in black (type 3): printed by Thomas de  La Rue; portrait watermark; type 3 security thread: printed by Thomas de La Rue; no watermark; no security thread; designs of the 5 and 1 of 1962 with altered denomination and changed colors: Bank Checks. 1982 emission authorized by "Decreto Supremo No. 19078 de 28 de Julio de 1982"; cheque pattern, both black on lilac: Regular cheques de gerencia were evidently pressed into service out of necessity in 1984 at Santa Cruz (dated June 6 or June 7;, P-176 and P178 ) and at La Paz (dated June 4 or June 18; P-180 , P-181 , and P-182 ). The circumstances of their use  require further clarification. 1984 emission authorized by "Decreto Supremo No. 20272, 5 junio de 1984": printed by Jeffries Bank Note Company, undated and with a 90-day validity clause; common design of Mercury in circle upper left, all brown & pink: printed by Casa da Moeda (Brazil), dated December 21, with 90-day validity clause: printed by Jeffries Bank Note Company, dated June 20, no validity clause: printed by Casa da Moeda (Brazil), no validity clause: 1985 emission authorized by "Decreto Supremo No. 20732 de 8 de Marzo de 1985": printed by Casa da Moeda (Brazil), Mercury design: printed by Giesecke  & Devrient (Germany), Mercury design: printed by Casa de Moneda (Argentina), geometric pattern: