A "BOB currency" refers to the Boliviano, which is the official currency of Bolivia, identified by the ISO 4217 code BOB.
The Boliviano (sign: Bs, ISO 4217 code: BOB) is the fundamental unit of currency used in the South American nation of Bolivia. The term "BOB currency" specifically highlights its identification through the international standard ISO 4217 code.
Key Details about the Boliviano (BOB)
Here are some essential facts about the BOB currency:
- Name: Boliviano ([boliˈβjano])
- Country: Bolivia
- Sign: Bs
- ISO 4217 Code: BOB
- Subdivision: Divided into 100 cents (or centavos in Spanish).
Why is the ISO 4217 Code Important?
The ISO 4217 code, like BOB, provides a globally recognized three-letter abbreviation for currencies. This is crucial for:
- International Trade: Facilitating clear communication in financial transactions worldwide.
- Financial Systems: Standardizing currency representation in banking, trading platforms, and software.
- Avoiding Ambiguity: Ensuring that when someone mentions "BOB," they are specifically referring to the Bolivian Boliviano and not another currency that might have a similar name or sign.
Structure of the Boliviano
Like many modern currencies, the Boliviano is fractional, meaning it is divided into smaller units.
- Main Unit: Boliviano (Bs)
- Subunit: Centavos (cents)
- Conversion: 1 Boliviano = 100 Centavos
This structure allows for precise pricing and transactions down to a smaller value.
Summary Table
| Feature | Detail |
|---|---|
| Currency Name | Boliviano |
| ISO 4217 Code | BOB |
| Country | Bolivia |
| Symbol | Bs |
| Subdivision | 100 Centavos |
In essence, when you see "BOB" used in financial contexts, it's the standardized way of referring to the currency of Bolivia, the Boliviano.
