Bolivia - Foreign Exchange Controls Bolivia - Foreign Exchange
As stated in the Conversion and Transfer Policies section, currency is freely convertible at Bolivian banks and exchange houses. The official exchange system is described as an “incomplete crawling peg.” Under this system, the exchange rate is fixed, but undergoes micro-readjustments that are not pre-announced to the public. There is a spread of ten basis points between the exchange rate for buying and selling U.S. dollars. The Boliviano (Bs) has remained fixed, at 6.96 Bs/$1 for selling and 6.86 Bs/$1 for buying, since October 2011. The parallel rate closely tracks the official rate, suggesting the market finds the Central Bank’s policy acceptable. In order to avoid distortion in the exchange rate market, the Central Bank requires, through a Resolution of its board, all currency exchange to occur at the official rate ±1 basis point.
Traveler’s checks, dollars, and major currencies may be exchanged in banks, exchange houses, and major hotels. Most automated teller machines (ATMs) in large cities offer cash withdrawals in either Bolivian currency or U.S. dollars.