Following many years of rampant inflation, the peso boliviano was replaced in 1987 by a new boliviano at a rate of one million to one. At that time, 1 new boliviano was roughly equivalent to 1 U.S. dollar.
In 1988, stainless-steel 2, 5, 10, 20 and 50 centavo and 1 boliviano (dated 1987) coins were introduced, followed by stainless-steel 2 bolivianos in 1991. Copper-plated steel 10 centavos were introduced in 1997 and bi-metallic 5 bolivianos in 2001. The 2 and 5 centavo coins are no longer in circulation. The 2 boliviano coin has been minted in two sizes, both of which remain legal tender. The smaller 2 boliviano coin is almost the same as the 1 boliviano coin, leading to potential confusion, although the 2 boliviano coins are undecagonal whilst the 1 boliviano coins are round.