10 Bolivianos

Bolivia's 1986 redenomination replaced the collapsed peso boliviano at a rate of one million to one — one of the more extreme currency resets in Latin American monetary history, triggered by hyperinflation that had reached an annualized rate exceeding 20,000 percent by mid-1985. This note belongs to the first boliviano series issued under that reform, printed by CBNC in Ottawa before domestic production capacity could absorb the volume required.

The Canadian Bank Note Company had a long relationship with Andean issuers, and the series printing quality is consistent with their work for other Latin American clients of the period. Watermark-only security reflects the modest specification budget of an economy still rebuilding reserves.