10 Bolivianos

Bolivia's 1986 monetary reform replaced the devastated peso boliviano with the new boliviano at a rate of one million to one — among the more extreme redenominations of the twentieth century, a direct consequence of hyperinflation that had briefly pushed annual rates past 20,000 percent in 1985. This note belongs to the first series issued under that reform.

The Canadian Bank Note Company, a reliable contractor for Latin American issues through this period, produced the series in Ottawa. Security thread inclusion on a note of this denomination was a deliberate choice given how recently Bolivia's currency system had been exploited by counterfeiters and arbitrageurs during the hyperinflationary collapse.