On 30 November 2018, it was announced that the remaining denominations of the old currency will be withdrawn from circulation and cease to be legal tender on 5 December 2018. On the obverse the left profile of the Libertador Simón Bolívar is depicted, along with the inscription "Bolívar Libertador" within a heptagon, symbolizing the seven stars of the flag. The notes are printed by Casa de la Moneda Venezuela in Venezuela. On the reverse the coat of arms is depicted, circled by the official name of the country, with the date and the denomination below. The Dollar has outperformed in early-week trading, while the Yen underperformed amid a backdrop of firmer global stock markets. [25] The change was to be made effective from 4 June 2018.

The old bolivar fuerte was redenominated at the rate of 1 VES = 100000 VEF. As inflation took hold, higher denominations of banknotes started being introduced: 1,000 bolívares in 1991, 2,000 and 5,000 bolívares in 1994, and 10,000, 20,000 and 50,000 bolívares in 1998.
[53][55] Days later on 11 December, President Nicolás Maduro who had been ruling by decree wrote into law that the 100 Bs.F. Want to send money? [40] Petro is regarded by many as a scam. 695. [49] One popular website that has been publishing parallel exchange rates since 2010 is DolarToday, which has also been critical of the Maduro government. ;[4] plural: bolívares soberanos; ISO 4217 code: VES). 500, all notes issued in 2018 were worthless. In November 2013, it was almost one-tenth that of the official fixed exchange rate of 6.3 bolívares per U.S. It did so at a rate of 1 Bs.F. The old bolivar fuerte was redenominated at the rate of 1 VES = 100000 VEF. 5-bolívar notes were issued between 1966 and 1974, when they were replaced by coins. Inflation accelerated, and on 1 December 2017, it reached 100,000 VEF/USD for the first time ever. Re-issues retain the value-specific motifs, but the printing quality is different.

[55], On 7 December 2016, a new series of banknotes (recolors of the previous notes) in denominations of 500, 1,000, 2,000, 5,000, 10,000, and 20,000 bolívares fuertes was unveiled to the Venezuelan public. 1,000 and above) remained legal tender during a transition period. [15][original research?] 1000, 2000, 5000, 10,000, 20,000, 100,000, Denomination of the coin, the eight stars and waves representing the patterns of, Denomination of the coin, the eight stars of, Effigy of the Liberator Simón Bolívar, waves representing the patterns of, Denomination of the coin, the eight stars and the waves representing the patterns of, Effigy of the Liberator Simón Bolívar, the eight stars of, 1000 bolívares (minted 2005, issued late 2006, incorrectly rumoured as recalled due to official Coat of Arms change during the interval), 2 BsF: March 20, 2007 to October 29, 2013, 10 BsF: March 20, 2007 to August 19, 2014, 20 BsF: March 20, 2007 to August 19, 2014, 50 BsF: March 20, 2007 to November 5, 2015, 100 BsF: March 20, 2007 to November 5, 2015, 500 BsF: August 18, 2016 to March 23, 2017, 1,000 BsF: August 18, 2016 to March 23, 2017, 5,000 BsF: August 18, 2016 to December 13, 2017, 10,000 BsF: August 18, 2016 to December 13, 2017, 20,000 BsF: August 18, 2016 to December 13, 2017, 100,000 BsF: September 7, 2017 to December 13, 2017, This page was last edited on 21 October 2020, at 15:15. The U.S. dollar is the currency most used in international transactions. [59] According to a United States Department of Defense adviser linked to The Pentagon, the 1.5 billion Bs.F was printed by Venezuela and destined for Bolivia, since unlike the implied exchange rate of thousands of bolívares fuertes equaling one United States dollar, the exchange rate was approximately 10 bolívares fuertes per dollar, making the value of the stash 419 times stronger, from US$358,000 to US$150 million. [41] By 24 August 2018, the introduction of the bolívar soberano had not prevented hyperinflation. This infobox shows the latest status before this currency was rendered obsolete.

They were quickly rendered obsolete by high inflation. [48] By 3 February 2016, this rate reached 1,000 VEF/USD.

notes issued consisting of 46% of Venezuela's issued currency, Maduro enacted an exchange for Venezuelan citizens to transfer all 100 Bs.F. © The Money Converter 2020. [43] According to inflation analyst Steve Hanke, between 18 August and 21 August 2018, the inflation rate increased from 48,760 percent to 65,320 percent. According to DolarToday, the parallel exchange rate was 54,702.82 VES/USD as of 1 January 2020. The rate surpassed 200,000 VEF/USD on 18 January 2018, then 500,000 VEF/USD on 16 April, 1 million VEF/USD on 30 May, 2 million VEF/USD on 7 June, and 5 million VEF/USD on 16 August. [24], On 22 March 2018, President Nicolás Maduro announced a new monetary reform program, with a planned revaluation of the currency at a ratio of 1 to 1,000. [19], The bolívar fuerte entered hyperinflation in November 2016. Venezuela introduced a new currency, the sovereign bolivar, on August 20th 2018, in an attempt to curb hyperinflation and economic crisis in the country. Until 18 February 1983 (now called Black Friday (Viernes Negro) by many Venezuelans),[7] the bolívar had been the region's most stable and internationally accepted currency. Starting from 2000, banknotes ranging from 5,000 bolívares to 50,000 bolívares were renamed to REPÚBLICA BOLIVARIANA DE VENEZUELA instead of BANCO CENTRAL DE VENEZUELA on the front, after the 1999 constitution was adopted. It surpassed 10,000 VEF/USD on 28 July 2017, and on 7 September 2017, the rate surpassed 20,000 VEF/USD for the first time.

[20][41], The black (or parallel) market value of the bolívar fuerte and the bolívar soberano has been significantly lower than the fixed exchange rate and other rates set by the Venezuelan government (SICAD, SIMADI, DICOM). [70] Not mentioning inflation, the Central Bank of Venezuela said the introduction of the new banknotes would "complement and optimize" the monetary system and that their purpose was to make payment systems "more efficient". [21] On February 5, 2018, the Central Bank of Venezuela announced a 99.6% [sic] devaluation, with the exchange rate going to 25,000 Bs.F per USD. [14] The name "bolívar fuerte" is used to distinguish it from the older currency that was being used along with the bolívar fuerte. [44] In September 2014, the currency black market rate for the bolívar fuerte reached 100 VEF/USD;[45] on 25 February 2015, it went over 200 VEF/USD. to 1000 Bs. The government was thwarting this threat by withdrawing the notes from circulation.


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