The peso boliviano (ISO 4217 code: ) was the currency of Bolivia from January 1, 1963, until December 31, 1986. It was replaced by the boliviano. It was divided into 100 centavos. The conversion rate was 1,000,000 pesos bolivianos to 1 boliviano. "$b." was the currency symbol for the peso boliviano. History On December 15, 1959, Bolivia had introduced a comprehensive economic stabilization program that abolished most currency restrictions on the boliviano, which had suffered badly from inflation. The program adopted a fluctuating exchange rate that was finally stabilized in 1962 at 11,875 bolivianos to the US dollar. The currency reform of January 1, 1963 adopted the peso boliviano, equal to 1,000 bolivianos, with an initial central exchange rate of 11·875 per . But inflation soon returned and the peso boliviano was devalued 39.4% on October 27, 1972, with a new official rate of 20·00 per . This rate was maintained until November 30, 1979, when the peso boliviano was put on a controlled float, initially at . Inflation accelerated. The official rate was devalued February 5, 1982 to 44 per . The average exchange rate was in 1982, in 1983, and in 1984. By September 1985 the US dollar was worth a million pesos bolivianos on the black market. President Paz Estenssoro announced a free exchange rate for the peso, which was floated on August 29, 1985, resulting in an effective devaluation of 95%. All exchange controls were lifted and the exchange rate was set twice weekly according to supply and demand. Its value continued to fall and by January 1986 the government was setting a new exchange rate daily in an attempt to boost confidence in the economy. After reaching a low of about per , the peso improved and stabilized around per dollar. A new monetary unit, the boliviano, was created by Law No. 901 of November 28, 1986, and a currency reform was announced December 30, 1986, effective January 1, 1987. This new boliviano replaced the peso boliviano. At 1 boliviano = 1,000,000 pesos bolivianos. Coins Reform coinage was introduced in 1965 in denominations of 5, 10, 20, and 50 centavos. A 1 peso boliviano coin was introduced in 1968, a 25-centavo coin in 1971, and a 5 peso boliviano coin in 1976. The last peso boliviano-denominated coins were struck in 1980. (KM numbers from Standard catalog of world coins) copper-clad steel: 01 km#187| 5c (1965,