The World - News from Dec. 31, 1986
The Bolivian government, feeling the effects of inflation that drove up the price of a hamburger to 3 million pesos, announced that it is creating a new currency by removing six zeros from the value of the peso and giving it a new name. One U.S. dollar now buys 1,923,000 pesos. After Jan. 1, a dollar will be worth 1.93 bolivianos, the name for the new currency. Bolivia’s Central Bank said that all commercial banks will close Friday so they can adjust their balances and ledgers. Central Bank officials said they have begun stamping “one boliviano” on a blank space on 1-million peso bills. The bills are worth about 52 U.S. cents.
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