200 Bolivianos

Bolivia's 1986 currency reform replaced the collapsing peso boliviano — which had suffered hyperinflation exceeding 20,000 percent annually by 1985 — with the new boliviano at a conversion rate of one million to one. This note was part of that initial release, issued under Supreme Decree 21060, the same legislative package that accompanied a radical IMF-aligned stabilization program under President Paz Estenssoro.

The Canadian Bank Note Company supplied the entire inaugural series. Security provision on early issues was modest — thread and watermark only — reflecting the urgency of getting a functional currency into circulation before the reform's credibility could erode.