Settling In 119these and other embassies may be obtained from any
telephone directory.
CURRENCY AND MONEY
When you speak with your Bolivian consulate, you can also
fi nd out the latest exchange rate. Currently, the Boliviano (Bs)
is just under 7 per dollar. Casas de cambio (currency exchanges)
are found easily in all larger cities, and will exchange money
at the current rate. Money changers on downtown street
corners will do the same for a minimal commission. Protect
your wallet after changing your money.
The offi cial currency is the Boliviano, but many items
and services may be secured with US dollars (US$). Real
estate property, automobiles and other large ticket items are
advertised in dollars. Should you decide to pay in Bolivianos,
it will be at the offi cial exchange rate. Many businesses will
exchange dollars and Bolivianos for customers, including
travel agencies, hotels, restaurants, supermarkets and many
grocery shops, as well as some street vendors.
What happens if you fi nd yourself low on cash? The most
effective method for me in large cities of foreign countries
is to make my payments at supermarkets, some restaurants
and larger ticket items from major shops with a Visa or
Mastercard. (It is quite diffi cult to cash a foreign cheque in
Bolivia.) By maintaining a current account (checking account)
in your country of origin and making prompt payments to
your credit card provider by cheque, you thus avoid the
interest charge. Or, you may use your ATM card to withdraw
cash from your account, if they do not accept your credit
card. In Bolivia, many businesses, especially small ones, do
not accept credit cards.
Certain banks, such as Banco Nacional, will allow foreigners
holding long-stay visas to open an account in US dollars. This
is practical for those receiving a salary from abroad or doing
business globally. The catch—it takes 15 working days for a
cheque to clear.
The Bolivian banking system weathered a few storms
between 1994 and 1995. This included a fraudulent offshore
Banco Boliviano Americano Internacional, that falsely led