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2009-09-22 | Resolución 109/2009

Added 2026-07-27 · Updated 2026-08-15

Resolution 109/2009 Approving the Regulation for the Exchange and Fractioning of Monetary Material of the Central Bank of Bolivia

The Central Bank of Bolivia approves a regulation mandating financial intermediaries to exchange damaged or mutilated Boliviano banknotes and to fraction larger denominations into smaller bills or coins. The rule establishes specific limits for the general public and commercial entities, allowing up to 10 larger bills or 100 coins per denomination for the public, while larger operators may request up to 50,000 bills or 5,000 coins weekly directly from the Central Bank. Non-compliance triggers escalating suspensions from USD trading and Open Market Operations with the Central Bank, starting at 15 days for a first offense and reaching 60 days for repeated violations.

Bolivia

Banco Central de Bolivia

BOARD RESOLUTION NO. 109/2009 SUBJECT: MONETARY OPERATIONS MANAGEMENT – APPROVES THE REGULATION FOR THE EXCHANGE AND FRAGMENTATION OF MONETARY MATERIAL OF THE CENTRAL BANK OF BOLIVIA.

SEEN: The Political Constitution of the State approved by referendum on January 25, 2009, and officially published on February 7, 2009. Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia (BCB). The BCB Statute approved by Board Resolution No. 128/2005 of October 21, 2005 and subsequent modifications. The Regulation on Monetization, Exchange, and Destruction of Monetary Material approved by Board Resolution No. 47/2009 of April 14, 2009, effective from July 15, 2009 in accordance with Board Resolution No. 074/2009 of June 23, 2009. The Report from the Monetary Operations Management STES No. 88/2009 of September 1, 2009. The Report from the Legal Affairs Management SANO No. 268/2009 of September 10, 2009.

CONSIDERING: That the Political Constitution of the State establishes in its article 328 that among the attributions of the BCB, in coordination with the economic policy determined by the Executive Branch, in addition to those indicated by Law: determine and execute monetary policy, execute exchange policy, regulate the payment system, authorize the issuance of currency, and administer international reserves.

That pursuant to articles 1 and 3 of Law No. 1670, the BCB is the sole monetary and exchange authority of the country with administrative, technical, and financial competence and specialized normative powers of general application, being empowered to formulate policies in monetary, exchange, and payment system matters.

That article 13 of Law No. 1670 provides that the BCB, banks, and all financial intermediation institutions are obliged to exchange deteriorated or mutilated banknotes, provided they clearly retain their two signatures and a serial number.

That pursuant to article 30 of Law No. 1670, all financial intermediation entities and financial services, whose operation is authorized by the Superintendence of Banks and Financial Entities, are subject to the normative competence of the BCB, with respect to their relationship as monetary, exchange, and payment system authority.

//2. B.R. No. 109/2009 That the Monetary Operations Management through Report STES No. 88/2009, recommends the approval of the Regulation for the Exchange and Fragmentation of Monetary Material of the BCB, a norm that will allow the public to have banknotes and coins in the denominations required for their transactions.

That the Legal Affairs Management through Report SANO No. 268/2009, states that there is no legal impediment for the Board of the Issuing Entity, in the exercise of its powers, to consider the approval of the Regulation for the Exchange and Fragmentation of Monetary Material of the BCB.

THEREFORE, THE BOARD OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Approve the Regulation for the Exchange and Fragmentation of Monetary Material, in its III chapters and 8 articles, which in the annex, forms an integral part of this Resolution.

Article 2.- This Regulation will enter into force from November 16, 2009.

Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, September 22, 2009

Hugo Dorado Araníbar

Gustavo Blacutt Alcalá Rolando Marín Ibáñez

Ernesto Yáñez Aguilar Rafael Boyán Téllez

//3. B.R. No. 109/2009 REGULATION FOR THE EXCHANGE AND FRAGMENTATION OF MONETARY MATERIAL CHAPTER I OBJECT AND SCOPE OF APPLICATION

Article 1. (Object). The present Regulation aims to regulate the exchange and fragmentation operations of Boliviano banknotes that must be carried out by all financial intermediation entities.

Article 2. (Scope of Application). The present Regulation applies to financial intermediation entities whose operation is authorized by the Authority for the Supervision of the Financial System (ASFI), established throughout the national territory.

CHAPTER II EXCHANGE AND FRAGMENTATION OF MONETARY MATERIAL

Article 3. (Exchange). Financial intermediation entities are obliged to carry out the exchange of deteriorated or mutilated Boliviano banknotes, provided they clearly retain their two signatures and a serial number.

Article 4. (Fragmentation). Financial intermediation entities, in all their branches and agencies within the national territory, are obliged to fragment Boliviano banknotes into smaller denominations or coins.

Article 5. (Categories and fragmentation limits). The following categories and limits are established for the fragmentation of monetary material:

No. Categories Fragmentation Limits

General public and commerce and small businesses Up to 10 banknotes of higher denomination for banknotes of lower denomination and up to 100 coins in each of the different denominations.
Medium and large operators in the public or private sector (commercial chains, supermarkets, fuel station associations, pharmacy chains, toll service companies, and others) a) Directly and weekly through the Central Bank of Bolivia (BCB), via written request addressed to the Treasury Sub-Management, up to 5,000 pieces in each of the different coin denominations and up to 50,000 banknotes of Bs10 and Bs20. b) Through the financial intermediation entities of which they are clients, in coordination with the BCB.

//4. B.R. No. 109/2009

Article 6. (Dissemination). The BCB will provide financial intermediation entities with posters indicating the mandatory nature of the exchange and fragmentation of Bolivianos, which must be placed in visible locations in all their branches and agencies.

CHAPTER III SUPERVISION AND PENALTIES

Article 7. (Coordination with ASFI). The BCB will coordinate with ASFI the supervision and control of compliance with this Regulation by financial intermediation entities.

Article 8. (Application of suspensions for non-compliance). Once the communication from ASFI regarding non-compliance with this regulation is received, the BCB will proceed to suspend the infringing financial intermediation entity according to the following details:

For the first non-compliance, suspension for 15 calendar days to buy and sell USD to the BCB.
For the second non-compliance, suspension for 30 calendar days to buy and sell USD to the BCB and to carry out Open Market Operations (OMO) with the BCB.
From the third non-compliance onwards, suspension for 60 days to buy and sell USD to the BCB and to carry out Open Market Operations (OMO) with the BCB.

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