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The Central Bank of Bolivia (BCB) has announced that it will introduce a new series of banknotes in 2018, including a new 500 boliviano denomination.

According to the press release issued by the Central Bank on 5 May 2016, the tender for the printing of the new series will include the Bs. 10, Bs. 20, Bs. 50, Bs.100, Bs. 200 and a new Bs. 500 banknote denominations.

The use of cash in Bolivia is prevalent compared with other payment mediums and, according to the Central Bank, the need for a new high value banknote is required for the transactions which now take place in the country – much higher than the average transaction in 1987 when the last banknote series was introduced.

The new series will be introduced progressively, with the first banknote to be launched in 2018.

When making the announcement, the Central Bank’s President, Lic. Marcelo Zabalaga, said that the new banknote series would include up to date security features to help counter the rise in counterfeiting which has been seen in recent years. The existing banknote series has been circulating for around 30 years, far exceeding the usual replacement period.

Features of the new banknote series

The new designs will continue to use the same sizes and predominant colours as the current banknotes to help with their introduction into circulation.

A key aspect of the new series is that it will incorporate tactile features to allow those with visual impairments to denominate the individual banknotes.

The BCB advises that it will conduct “an intense” publicity and education campaign prior to the release of the new banknotes.

Read the full press release from the Central Bank of Bolivia here: