Countries that use the BOB
Currency Exchange Rates for Bolivian Boliviano? Convert GBP to BOB at todays exchange rate. See historical and money transfer restrictions for Bolivia.
It is not uncommon for an individual who has settled abroad or in
another country to send money back home. There are plenty of options
that are available, with different features that allow you to send large
amounts or make instant money transfer. If you are looking to make
instant transfers, here are a few tips that can assist you.
How you want to transfer
the progression in technology and economy, you have plenty of choices
to make money transfers. Some of the options that are available for
instant money transfer include e- transfer and power transfers. You can
even opt for international bank accounts who have branches within the
home country and abroad. There may be plenty of other choices that are
available but it is best to consider the options that have a good
reputation or service, so that you can assured of safe transfer.
certain options, there may not be money transfers available at all
locations. While you can avail of the offline routes, it is mostly the
online options that are available to the urban areas. If you are making
an instant money transfer from abroad, you will need to check if the
currency you want to transfer in is covered by the bank. Normally
currency like US dollar, Euro and pound sterling are normal currencies
that are permitted by most banks. However, if you want to use currencies
apart from these, you will need to check out other available options.
Cost of service
you choose an option to transfer your money, you will need to check
your funds. It is known fact that there is an inverse relationship
between the speed of transfer and the costing for the service. For
example, BOB is costlier via drafts and cheques. It normally takes
anywhere less than 1 to 5% of the funds you will need to send. Other
options like the Western Union charge a higher commission with nearly 25
to 35% more than banks. Although they may offer specialized services
without the need for a bank account, they do have a better reach. Always
shop for such rates before you opt for a transfer. Additionally check
for hidden charges such as service tax or any other related taxes.
and cost alone may not be factors you will need to consider when
transferring funds. Convenience for both the sender and the receiver
must also be a factor that needs to be considered. If either party is
not comfortable using the one option, another alternate route would be
better. Also ensure that you ask the service provider about its refund
policy and your rights in the instance that the money is not received
within the specified period.
Currency Information on Bolivian Boliviano - BOB — Boliviano – Bs.
Introduced in 1864, the Boliviano is subdivided into 100 cents, or ‘centavos’. Bolivia’s currency was the boliviano between 1864 and 1963, when it was briefly replaced with the Bolivian peso at a rate of 1,000:1. The peso boliviano was replaced once again with the boliviano in 1987 at a rate of 1million: 1, making the new boliviano closely equivalent to 1 US dollar.
Coins in circulation in Bolivia include 10, 20 and 50 centavos and 1, 2, and 5 Boliviano, whilst banknotes are available in denominations of 10, 20, 50, 100 and 200 Bolivianos.
Despite Bolivia being one of the more prolific mints during the colonial era, the coining and printing of the Boliviano is carried out in countries such as the UK, Chile and France, as the production of currency ceased in Bolivia when political interest fell and it became apparent that coins and banknotes could be sourced more cheaply from other countries.
Given the current crisis in my country, I was forced to move abroad to find a better financial life. I’ve been living and working in a good UK job for two years now. Although my wife and children came with me I send money to my relatives in Greece very often. Every time I do so I make sure I'm getting a good currency exchange deal by checking online how to send money abroad at the best rates.
Comment written by Kostas Skordas Architect.
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