Venezuelan Bolivar

About The Venezuelan Bolivar: The Currency of the Venezuela

Quick Facts About the Venezuelan Bolivar Notes

Country of Origin	Venezuela
Symbol	The Venezuelan Bolivar symbol is Bs.D
Currency Code	VED
Nick Names
Minor units	Centimo
Denominations (Banknotes)	Bs. 5, Bs. 10, Bs. 20, Bs. 50, Bs. 100
Motto
Identification Feature	To identify a genuine Venezuelan Bolivar currency banknote, you need to look for:    1. Color Shifting ink  2. Watermark  3. Raised markings  4. Micro text  5. Fluorescent fibres
Issuing Bank	Banco Central de Venezuela (Central Bank of Venezuela)
In Circulation Since	1 October 2021

Venezuela's currency is the Venezuelan Bolivar. It's abbreviated as VED and is split into 100 centimos. The Venezuelan Bolivar symbol is Bs.D. Simón Bolivar, one of the important commanders in the Spanish-American wars of independence and the founder of the Republic of Gran Colombia, which covered present-day Venezuela, Colombia, Panama, and Ecuador, inspired the Bolivar.

People of indigenous and African descent, as well as the first woman to appear on a Venezuelan Bolivar banknote (Luisa Cáceres de Arismendi, who appears on the 20 Bolivar Fuerte note), are among the historical figures featured on Venezuelan Bolivar banknotes. She was a national heroine for standing by her husband, military officer Juan Bautista Arismendi, during Venezuela's independence struggle. The 10-bolivar Fuerte note depicts Guaicaipuro, an Indian chief who fought against European domination in the middle of the 16th century. Simón Bolivar, a soldier from the 19th century who led revolutions against Spanish control in South America, is depicted on the 100 Bolivar Fuerte note.

The value of the Venezuelan Bolivar has changed dramatically in recent years as a result of Venezuela's economic and political turmoil. The Venezuelan Bolivar has lost value versus other currencies because of excessive inflation. To try to stabilise the currency, the government has adopted many measures, including currency restrictions and the issuance of new banknotes and coins.

The Central Bank of Venezuela issues the Venezuelan Bolivar and the currency is only used for domestic transactions. The central bank is also responsible for issuing Venezuelan Bolivar Forex cards for tourists and businesses.

The Venezuelan Bolivar exchange rate against the major world currencies is presented below. These values represent the Venezuelan Bolivar rate today.

 1. 1 Venezuelan Bolivar to INR: ⚠️ 🔄 INR

 2. 1 Venezuelan Bolivar to USD: 0.061 USD

As is clear from the rates of conversions for Venezuelan Bolivar to Indian rupee and Venezuelan Bolivar to Dollar, the currency has a very low value, with the currency losing more and more value every day due to hyperinflation.

You can find the live Venezuelan Bolivar rate in the international forex market and exchanges with a simple Google search and be updated with the latest Venezuelan Bolivar currency exchange.

History of the Venezuelan Bolivar

The Venezuelan Bolivar was introduced as the official currency of Venezuela in 1879, replacing the Venezuelan peso. It was initially pegged to the U.S. dollar at a rate of 1 Venezuelan Bolivar = 1 USD. However, the Venezuelan Bolivar has experienced significant devaluation over the years due to economic and political instability in the country.

In the early 21st century, the Venezuelan Bolivar underwent several rounds of redenomination, where the value of the currency was adjusted and new banknotes were introduced. The most recent redenomination occurred in 2018 when the Bolivar was redenominated at a rate of 1 Venezuelan Bolivar Soberano = 100,000 Venezuelan Bolivares Fuertes. The Venezuelan Bolivar Soberano has since lost value against other currencies due to high inflation and a shortage of foreign exchange in Venezuela.

The Venezuelan Bolivar is not a freely traded currency, and its exchange rate is controlled by the government of Venezuela. This has led to a black market for foreign exchange, where the Venezuelan Bolivar can be traded at a much higher rate than the official rate. The use of non-official exchange rates, known as "paralelo," is common in Venezuela and has contributed to the devaluation of the Venezuelan Bolivar.

Countries Accepting the Venezuelan Bolivar

Amount in the Venezuelan Bolivar You Should Carry for Your Trip

The Venezuelan Bolivar is a highly volatile currency. As such, it is advised that when you visit Venezuela, carry US dollars which you can exchange for equivalent money or just use USD to pay for things. You can also carry the Colombian Peso.