“Bolivia is cheap, right? ”Well, yes — it is. But there’s one thing many travelers don’t realize:
The exchange rate you use can completely change your travel costs.
Right now in Bolivia, there are essentially two exchange rates:
- The official government rate
- The “Blue Rate” (parallel market rate) actually used by locals
And for travelers, the second one matters far more.
If you only rely on ATMs or card payments, you could end up overpaying for food, accommodation, and tours every single day.
So… What Is the “Blue Rate”?
The Blue Rate refers to the real market value of the US dollar outside the official banking system.
In Bolivia, the official USD exchange rate has long been fixed at around:
1 USD = 6.96 BOB
However, Bolivia is currently facing a serious shortage of US dollars.
As a result, many people simply cannot buy dollars at the official rate anymore.
That’s why in local exchange houses, you may now see rates closer to:
1 USD = 9–10 BOB
This is what people call the “Blue Rate.”
Argentina’s “Blue Dollar” is famous, but Bolivia has increasingly developed a similar situation.
How Big Is the Difference?
A pretty huge one.
For example, exchanging 100 USD:
Official Rate (ATM / Card / Bank)
100 USD → around 696 BOB
Blue Rate
100 USD → around 900–1000 BOB
That means:
The exact same 100 dollars can give you 200–300+ extra BOB.
In USD terms, that can easily mean a difference of 30–40 USD.
For travelers, that’s massive.
That difference could cover:
- Several hostel nights
- 10 café visits
- A long-distance bus ticket
Simply understanding the exchange system can dramatically reduce your travel costs.
Even Hostels Sometimes Use the Blue Rate
This surprised me at first.
Some hostels and tour agencies in Bolivia now offer Blue Rate conversions if you pay in cash USD.
Ironically, paying in Bolivianos can sometimes be more expensive.
A Real Example
At one hostel I stayed at:
Booking.com listed the room as:
8 USD (around 55 BOB)
But when paying locally, they told me:
“80 BOB if paying in Bolivianos.”
So just the payment method alone created nearly a 5 USD difference for the exact same room.
That may not sound huge at first.
But once you add up:
- Accommodation
- Tours
- Transportation
- Cafés
- Restaurants
…the difference becomes very significant.
And card payments sometimes add another 5%+ fee on top.
At that point, you really start to understand how powerful cash USD is in Bolivia right now.
If You Want to Travel Smart in Bolivia, Bring USD Cash
Right now, USD cash is king.
Especially:
- 50 USD bills
- 100 USD bills
- New bills
- Clean, undamaged bills
On the other hand:
- Torn bills
- Dirty bills
- Written-on bills
- Old bills
may receive worse exchange rates.
In South America, the condition of banknotes matters a lot more than many travelers expect.
If you’re planning a trip to Bolivia, bringing clean USD bills is extremely important.
What If You Can’t Bring Cash?
Recently, more travelers have been using apps to send money and collect Bolivianos at local banks in Bolivia.
We also personally received money at a rate that was very close to the Blue Rate.
However, keep in mind that you generally receive Bolivianos — not physical USD cash.
Popular options include:
- Airtm
- USDT
- Remitly
- Western Union
We personally used Remitly, and it worked surprisingly well.
If you’re planning to try it, using a referral link may give you a first-transfer bonus👇
How to Send Money to Bolivia with Remitly
The process is actually pretty simple.
1. Create an Account
Download the app or use the official website.
You’ll generally need:
- Email address
- Phone number
- Passport or ID verification
For first-time transfers or larger amounts, identity verification may be required.
2. Enter the Amount
Once you input the amount, you’ll immediately see:
- Transfer fee
- Exchange rate
- Final amount received in Bolivianos
Seeing the exact amount beforehand makes things much easier.
3. Choose a Receiving Method
In Bolivia, one common option is:
- Cash pickup
For travelers, this is usually the easiest choice.
After sending the money, you simply go to a participating bank and collect the cash with your passport.
4. Enter Recipient Information
You’ll usually need:
- Full name (exactly as written in your passport)
- Phone number
- Sometimes an address
Be careful — even small name differences can prevent pickup.
If you have a middle name, enter it exactly as shown on your passport.
5. Pay and Send
Pay using a debit or credit card, and the transfer is complete.
Sometimes the money arrives within minutes.
Where Can You Receive the Money in Bolivia?
Some participating banks include:
- Banco de Crédito de Bolivia (BCP)
- Banco Económico
- Banco Unión
We used Banco Económico ourselves, and the process was relatively smooth.
Just don’t forget your passport.
That said, delays can still happen because of:
- Long lines
- Limited business hours
- Cash shortages
So it’s best not to wait until the last minute.
Important Risks to Know
The Blue Rate can save money, but it also comes with risks.
Things to watch out for:
- Street exchange scams
- Fake bills
- Theft
- Robbery
- Manipulated rates
Travelers are often easy targets.
It’s much safer to exchange money through:
- Trusted exchange houses
- Hostels
- Reliable local contacts
Final Thoughts
In Bolivia today, understanding the money situation may actually be more important than the sightseeing itself.
The key points are simple:
- Official rate: around 6.96
- Real Blue Rate: around 9–10
- ATMs and cards are usually disadvantageous
- USD cash is extremely valuable
- Even hostels commonly use Blue Rates
Knowing this can completely change your travel experience in Bolivia.
Bolivia isn’t simply “a cheap country.”
It’s a country that becomes cheap if you understand the exchange system.
