In the heart of South America lies Bolivia, which is a land of beautiful landscapes, cultures, and heritage. So, whether you are planning to go on a vacation to a captivating city, want to send or receive money from there, or are just curious, here are all the details about the Bolivian currency and how it can make your travel plans better.
What is Bolivia’s Official Currency?
The official currency of Bolivia recognized by the Bolivian government is the Boliviano. What’s amazing is that the Bolivian currency is currently one of the strongest currencies in Latin America, with a free-floating exchange rate. So, if you are visiting Bolivia, it is surely recommended to convert your national currency into boliviano, as the country doesn’t accept any other currencies except for its own.
What are the Best forms of payment available when traveling to Bolivia?
If you are planning to visit the serene South American country filled with Spanish colonial architecture and exquisite natural landscapes, determining the best possible way to pay while shopping is a very crucial step. So, here are some forms of payment that the country accepts, making it easier for you to enjoy your vacation hassle-free.
1. Credit Cards
Credit cards like VISA and MasterCard are the most popularly used and accepted credit cards that work well in the country. So, if you are a tourist, always keep a credit card nearby in case of emergencies.
2. Debit Cards
You can either make cash withdrawals with your debit cards or use them directly for making any purchases or bookings you require. You might levy a country charge every time you make a payment, so only use the debit cards when you have no other payment options left.
3. Bolivian Cash
One of the safest payment options while traveling to Bolivia is, obviously, the Bolivian currency. You can easily convert your cash into boliviano for an exchange rate at a bank, or you can do so at airports too.
4. Mobile Payments
Bolivia is quite an advanced company that accepts digital payments like Apple Pay, Google Pay, or even Alipay. However, you may have to read some terms and regulations beforehand using these as your payment methods.
5. Prepaid Travel Cards
Out of all the payment methods, investing in a prepaid travel card is simply the easiest and most secure way to purchase items in the country. You don’t even have to pay additional transaction costs every time you use a prepaid travel card. And it is not limited to just one country, so you can use it every time you travel to a new country.
How can Revolut make traveling to Bolivia easier?
Revolut, a global neo-bank and a financial technology company that offers various banking services can make your travel plans much easier and smoother. The company is a global provider that houses prepaid travel cards, so you can make seamless transactions at the lowest exchange rates possible.
You can hold various multi-currency balances on the card, do transactions through either a swipe or a tap, or can even do cash withdrawals freely without incurring any transaction costs. With a Revolut account, you can even receive or transfer money all across the globe with just a single touch.
Furthermore, you even get tons of perks and benefits with Revolut’s travel card like access to airport lounges, travel insurance, and various cashback rewards. So, before you embark on an international trip to Bolivia, don’t forget to order your reliable companion for a more manageable payment and transaction experience.
What are the Bolivian Currency Exchange Rates?
Exchange rates refer to converting one currency into another with an applied rate. So, when it comes to Bolivian currency, they are currently standing at a conversion rate of USD $1 to BOB $6.8551.
As everyone knows, these rates are never fixed as they fluctuate from time to time because of various economic, political, and market factors. A higher exchange rate means that the value of one currency has increased in comparison with others, whereas the case is reversed when it comes to lower exchange rates. So, when you are traveling to Bolivia, making a purchase, or sending money, these exchange rates come in handy to make conversions and figure out how many transactions and other rates are being applied.
If you want to find out the best possible exchange rates for Bolivia while incurring low costs, Revolut is a great platform that offers the lowest rates without incurring high additional taxes. So, take a look at the website and convert the currency seamlessly.
Conclusion
In conclusion, the official currency of Bolivia, Boliviano(BOB) holds quite a significant place in the world’s economic and cultural landscape. The country has surely experienced many economic fluctuations and challenges but has risen from them and now stands to be one of the topmost countries in South America filled with scenic beauty and natural landscapes. For assistance with money exchange, check out Revolut’s website and for more information about currency exchange, visit The Web Hunting.
