Bolivia’s central bank just told its citizens: we’re giving your dollars back. After years of restricted access to foreign currency deposits, the Banco Central de Bolivia announced a phased program to return approximately $933 million in frozen USD holdings to individuals, starting July 15, 2026.
The plan prioritizes smaller accounts first, with deposits under $1,000 getting guaranteed access before larger balances between $1,001 and $3,000. BCB President David Iván Espinoza said the bank has sufficient dollar reserves to cover these commitments over the next two years.
From fixed peg to free float
Bolivia maintained a fixed exchange rate of roughly 6.96 bolivianos per dollar for well over a decade. Dollar reserves started draining in 2023. The government couldn’t maintain the fiction of a fixed rate while running short on actual dollars, so it did what governments in this situation eventually always do: it restricted access. Bolivians with USD deposits in the banking system found themselves unable to withdraw their own money.
On June 26, 2026, Bolivia officially pulled the plug on the peg. The boliviano now floats against the dollar under BCB management, with the reference rate settling around 9.73 to 9.83 BOB/USD. In English: the boliviano lost roughly 40% of its value against the dollar compared to the old fixed rate.
