BOB to SOS

BOB - Bolivian Boliviano (BOB)

Bolivian Boliviano

The official currency of Bolivia is the Bolivian Boliviano (BOB). The symbol used for the Boliviano is Bs. The Boliviano is subdivided in 100 centavos. The same name was used for the currency from 1864 to 1963. There were two Boliviano series additions before the new Boliviano was introduced.

The Bolivian Boliviano is the currency in Bolivia (BO, BOL). The symbol for BOB can be written Bs. The Bolivian Boliviano is divided into 100 centavos. The exchange rate for the Bolivian Boliviano was last updated on May 24, 2019 from Yahoo Finance. The BOB conversion factor has 3 significant digits.

Economy

• The economy of Bolivia fluctuates and has had periods of diversification.
• Bolivia’s agricultural sector needs to be modernized.
• Due to the slow population growth, industries in Bolivia have been growing at a slow pace.
• The mining industry in Bolivia accounts for a large part of the export products.
• Bolivia relies on the service industry, which accounts for 52% of the total GDP.
• Unemployment is estimated at 8.3%.
• The natural gas reserve of Bolivia is the second largest in South America.
• Export products are zinc, tin, cocaine, ore, soy products, natural gas, and soybeans.
• Import products are aircraft, automobiles, plastics, insecticides, petroleum products, and soybeans.
• There are no foreign investment restrictions in Bolivia.
• In the last few years Bolivia’s economy has been improving steadily.

History

• In 1864 the first Boliviano was launched. The currency before the Boliviano was the Scudo.
• Originally the currency was subdivided into centecimos; these were changed to centavos in 1870.
• Initially the boliviano was pegged to the French Franc at a rate of 5 French Francs = 1 Boliviano.
• The Boliviano became part of the gold standard in 1908.
• In 1940 Bolivia accepted multiple exchange rates with the US Dollar.
• In 1963 the Boliviano was replaced with the Peso Boliviano.
• In 1987 the new Boliviano replaced the Reso Boliviano.

More information about BOB - Bolivian Boliviano (BOB)

SOS - Somali Shilling (Sh.So.)

Somali Shilling

The Somalia Shilling has been the official currency of Somalia since 1962. Somalia was previously referred to as the Somalia Democratic Republic. The country is situated in the horn of Africa and was barely recognized by other countries. The currency symbol is Sh.So. The currency has been listed as one of the world’s worst currencies, with an incredibly high exchange rate against the US Dollar.

The Somali Shilling is the currency in Somalia (SO, SOM). The symbol for SOS can be written So Sh. The Somali Shilling is divided into 100 centesimi. The exchange rate for the Somali Shilling was last updated on May 24, 2019 from Yahoo Finance. The SOS conversion factor has 4 significant digits.

Economy

• The economy of Somalia was extremely hampered by the civil war and the action of government officials in the 1990s, when Mahammad Said Barred was in power.
• Agriculture and manufacturing contribute a great deal to the Somalian economy. Agricultural produce like maize, bananas, sugar, and seafood account for millions of dollars each year. Products such as pasta, plastic bags, soap, fabric aluminum are manufactured for local use as well as for export.
• Residents and small businesses rear large numbers of sheep, goats, and cattle. Camels are also reared in areas where the environment is suitable.
• Telecommunication is also a major contributor to economic growth in the region. Efficient and effective services are offered at low cost.

History

• In 1921, the Shilling was made the official currency of Somalia.
• In 1962, banknotes were distributed in denominations of 100 shillings, 20 shillings, 10 shillings, and 5 shillings.
• In 1967, new coins were distributed with values of 50 cents, 10 cents, 5 cents, and 1 Somali shilling.
• As a result of rising inflation, advanced additional Shilling notes were issued in denominations of 500 and 100 shilling banknotes.
• Due to civil unrest in the country, new Shillings were issued that were equivalent to 100 of the previous Shillings.

More information about SOS - Somali Shilling (Sh.So.)