Bolivian Boliviano (BOB)
a.k.a. BOB, Boliviano
The currency of Bolivia, code BOB, held for years at a fixed official rate against the US dollar.
In plain English
The currency of Bolivia, code BOB, held for years at a fixed official rate against the US dollar.
The Bolivian boliviano (BOB) was kept at a fixed official rate of about 6.9 per US dollar for more than a decade. Falling gas exports and shrinking reserves in recent years caused dollar shortages and a gap between the official and street rates.
It shows the classic strain of a peg: it holds only as long as the reserves to defend it do.
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