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1 000 000 Pesos Bolivianos
| Issuer | Banco Central de Bolivia |
|---|---|
| Year | 1984 |
| Type | Emergency banknote |
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| Obverse description | Emergency cheque de gerencia (management check) format, with the issuer name and document type printed at upper left. The place and date of issue (La Paz, June 18, 1984) appear as overprinted text to the left, while the face value is overprinted in numerals to the right and in words across the lower portion. A vignette of Mercury within a circle serves as a central underprint. |
|---|---|
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| Variants | P#182a - issued note P#182b - overprint "ANULADO" P#182c - paid; punch hole cancelled |
| Comments |
Bolivia's 1984 hyperinflation was among the worst in Latin American history — by mid-1985, annual inflation had exceeded 20,000%. This note was a practical necessity, not a policy choice, issued as the purchasing power of lower denominations collapsed faster than new ones could replace them. The one-million peso boliviano denomination, unthinkable a decade earlier, was routine by the time it circulated.
ABNC printed the series in New York, a long-standing arrangement Bolivia maintained even as its domestic economy disintegrated. Within two years of issue, Bolivia replaced the entire peso boliviano currency with the boliviano at a conversion rate of one million to one — effectively confirming this denomination as the floor of a failed system.