 Fiscal and monetary reform reduced the inflation rate to single digits by the 1990s, and in 2004 Bolivia experienced a manageable 4.9% rate of inflation.In 1987, the Bolivian peso was replaced by a new boliviano at a rate of one million to one (when 1 US dollar was worth 1.8–1.9 million pesos).At that time, 1 new boliviano was roughly equivalent to 1 U.S. dollar.