Currency of Venezuela

The currency of the Bolivarian Republic of Venezuela is the called the Bolivar Fuerte, introduced in January 2008. The ISO code for the Venezuelan currency is VEF. On the other hand, the symbol or sign for bolivar fuerte is Bs.F. Each bolivar fuerte contains 100 “Centimos”. The former currency of Venezuela was known as the “bolivar” which was introduced in 1879. The bolivar replaced an even older currency known as “venezolano”. The boilvar fuerte of the present times is equal to 1000 former bolivars. The Venezuelan currency is maintained and regulated by the Central Bank of Venezuela. The banknotes for bolivar fuerte bear pictures of important historical figures of Venezuela. Some of these important personalities include Simon Bolivar on the 100 bolivar fuerte note, Guaicaipuro on the 10 bolivar fuerte note, and a woman, Luisa Caceres de Arismendi, on the 20 bolivar fuerte note.

Venezuela is a country in South America. It has been a Spanish colony from 1522 to 1811. It officially gained complete independence in 1830. Before independence, the currency of Venezuela consisted of the Spanish “Peso” and “Escudo”. One peso equals 8 Reales (silver). On the other hand, 1 escudo contains 2 pesos (gold). The silver peso and gold escudo, in the form of coins, made up the Spanish American currency.