Bolivar (currency)

The bolívar (symbol: Bs.; ISO 4217 code: VES (numeric: 926)) has been the legal tender of Venezuela since 1879. Due to the hyperinflation suffered by the country and the consequent devaluation of the Bolívar from 2007 to 2021, fourteen zeros have been removed from its denomination. That is, its value was divided by one hundred trillion (10¹⁴). With each shift of the decimal point, new versions of the banknotes have been printed and a different adjective has been added to the currency. The old bolivar, or simply bolivar (Bs.), circulated between 1879 and 2007. The strong bolivar (Bs.F) circulated between 2007 and August 2018; with this the first three zeros were removed. Subsequently, the currency was denominated bolivar soberano (Bs.S) and five more zeros were eliminated. The sovereign bolivar circulated between 2018 and 2021, however, as of February 2019 it was simply called bolivar (Bs.) without changing its value. This was replaced as of October 1, 2021 by the so-called digital bolívar (Bs.D) although its name continues to be simply bolívar (Bs.). The value of the digital bolivar is obtained by "eliminating six zeros" (dividing the value by one million) to the sovereign bolivar.

The bolivar was established in 1879 as a monetary unit by President Antonio Guzmán Blanco, bearing the surname of Simón Bolívar, a hero of Venezuelan independence. The Constitution establishes that the monetary unit is the Bolívar (Article 318) and delegates its issuance and control to the Central Bank of Venezuela (BCV). The BCV mints the coins and prints the bills in its own Mint (located in Maracay, Aragua State) and has the obligation to ensure stability monetary, among other powers conferred by the Magna Carta. Said article also establishes that Venezuela may have a common currency in Latin America and the Caribbean as long as the Republic signs a treaty.

History

Silver machine with value of 8 reals

The colonizers brought the coins resulting from the Pragmática of 1497, a monetary reform implemented by the Catholic Monarchs, which were made with silver and gold from America and prohibited minting in that continent for fear of corruption. However, in 1535 the Casa de Moneda de México was founded and the following year they began to issue the macuquinas with values of 1/2, 1 and 2 reales. The history of the currency in Venezuela can be say that it begins in the XVIII century when various types of currency were brought due to the trade of the Guipuzcoan Company, established in 1730, including said macuquinas. During the reign of Felipe V, in 1732, the mechanization of the mints was ordered, which led to a better finish, producing a type of coin called columnar. In 1754 Fernando VI ordered the prohibition of circulation of coins minted in Spain in American territory year which meant a serious shortage of cash. Due to the habit of the population of cutting precious metal from the edges of the macuquinas for their own benefit, in 1789 their circulation in Venezuela was prohibited.

8 Gold shields with the effigy of Philip V.

The columnarios lacked these defects on the edges, so they continued to circulate until 1811, when patriotic provincial mints in Barinas and Margarita re-minted the royalist coins. These coins were called Venezuelan reales.

1 Real Venezuelan: Reverse: 19 (April 1810) surrounded by seven stars, reversed: facial value in the center UN / REAL with legend and date around "CARACS YEAR 2 OF THE REP(ÚBLI)CA" (Caracas, 1812)

In an attempt to control the currencies used in the country during the time of independence, various currencies were created. The first of these was the "Venezuelan peso", in the year 1811. Then, after several political changes, in 1876 it was possible to create a single currency for the country that was baptized as the Venezuelan, which lasted a short time and was replaced by the bolivar through the Currency Law promulgated on March 31, 1879. However, the first coin with the stylized effigy of Simón Bolívar on the obverse was launched in 1873 and was designed by the French engraver Albert Desiré Barre. The coat of arms of the Republic of Venezuela was on the reverse and this design is maintained to the present, with some stylistic modifications.

Mint

Gold coin with face value of 20 bolivars of the year 1911, purity of law 900, with the effigy of the Liberator.

The first mint was inaugurated on October 16, 1886, by then President Antonio Guzmán Blanco under the name Caracas Mint. That year, Guzmán Blanco was presented with the first gold coin of 100 bolivars (a fortune for the time), popularly called "Pachano", referring to the name of the first director of the Organization, General Jacinto Regino. Pachano.

Then, this facility was closed and the country depended on coins and banknotes manufactured in England, the United States, Germany and Denmark that were ordered by different private banks and always authorized by the national government.^{[quote required]} In 1940, the Central Bank of Venezuela was created by law, which, among other powers, took control of the printing and creation of banknotes and coins of legal tender and mandatory acceptance.

At the beginning, with its various variants in face values, weights and dimensions, the coins were made with a silver alloy known as Ley 900 until 1967, due to the increase in the cost of this metal. Since then, they have been made on the basis of a nickel-steel alloy. The banknotes, meanwhile, were printed with special security papers with cotton fibers, to which security elements were incorporated to prevent counterfeiting.

In order to reduce costs and print banknotes, coins and other fiscal species (sealed paper and stamps or fiscal stamps) in the country, it was built in the city of Maracay in the state of Aragua (from 1988 to 1998) the current headquarters of the Casa de la Moneda, which began its operations in 1999, incorporating the logo of the new organization into the design of the new coins. Until then they were manufactured by the BARRÉ numismatic company in France.

Money Cones

Initially, all kinds of coins were minted at the expense of the Venezuelan government, with the exception of banknotes whose edition was commissioned by some private banks until the creation of the Central Bank of Venezuela, through a law promulgated on September 8, 1939, during the presidency of General Eleazar López Contreras.

1 silver bolívar coin of 1935.

Currency of 5 Silver Bolivars of 1919.

President Rómulo Betancourt devalued the bolivar against the US dollar to a value of 4.70 and delivered the charge with Bs. 4.30 per US$ causing the face value of the currency to be less than the value of the mineral with which it was done. All this, coupled with the international increase in the price of silver in the stock markets, prompted the population to keep silver coins since the metal was worth more than its face value. On December 13, 1965, by law, the government of Raúl Leoni collected the medios (Bs. 0.25) and reals (Bs. 0.50) of silver to progressively replace them with coins minted in nickel, however, he tried to continue minting the 1 and 2 Bs coins in silver. Likewise, the population treasured said coins, causing a shortage of simple while long lines formed at the offices of the Central Bank of Venezuela where they exchanged bills for silver coins in a limited way for each person. This was how in the year 1965 the last silver bolívares were minted and this valuable material has not been used again except in commemorative coins.

During 1988, a second coin shortage occurred in Venezuela. Due to a strong devaluation, the value of the material with which the one and two bolivar coins (nickel) were made exceeded their face value. The effect of this phenomenon was a massive smuggling of extraction to neighboring countries where it was melted down and given industrial use.

In 1989, the Central Bank of Venezuela, under the presidency of the economist and banker Pedro Tinoco, to alleviate this situation put into circulation bills of one and two bolivars, popularly known as "Tinoquitos" or "Monopoly Bills" for their Small dimensions compared to standard banknotes in circulation. The rapid deterioration of these and the emergence of a new cheap alloy for the manufacture of coins caused their circulation to stop in 1990.

In 1998 a new monetary cone was introduced due to the growth of inflation and the devaluation of the bolivar, which consisted of coins for values of 10, 20, 50, 100 and 500 bolivars, all of them silver with an alloy cupronickel plated steel. A year later and after the change of the official name of the country, they were issued again with the denomination of "Bolivarian Republic of Venezuela". In 2002, the Bs 10 and Bs 20 coins, of very little use, they are made of aluminum also with a silver color, but much lighter.

On December 4, 2006, the first coin with a face value of one thousand bolivars (Bs. 1000.00) entered into circulation; which in turn is the first bimetallic coin in the history of Venezuelan numismatics. The nominal diameter of this coin was 24 millimeters (a little smaller than the Bs. 500 coin) and 8.5 grams; the edge is smooth with the repeating inscription of "BCV1000" and its design was similar to that of the current Bs. 1 coins, except that it has an external ring made of a yellow bronze-aluminum alloy (copper, aluminum and nickel).

On January 1, 2008, a monetary reconversion was applied that established the Bolívar Fuerte and for 3 years both monetary cones coexisted.

The devaluation of the value of the banknotes at the beginning of 2018 was such that they used it to make handicrafts such as purses, wallets, hats and belts and they were sold with a higher value than the paper money that was used. On August 20 In 2018, another monetary reconversion was applied that established the sovereign bolivar with partial coexistence with the monetary cone of the Bolívar Fuerte.

The three monetary cones are presented below.

Bolivar (VEB) (1879 - 2007)

Currency Cone Historic Bolivar

Denomi... nation	Caracte- ristics	Tell me tro.	Reverse	Reversal
5 cents (known Like "puya" or "nica")	Metal: Stainless steel in copper-nickel Song: smooth	18 mm	Grafila perlada with the facial value in the center and surrounded on the top with laurel branches and strawberries.	Grafila perlada con shield de arma de la República en el centro y año de acuñación.
10 cents	Metal: copper-nice Song: smooth	21 mm	Grafila perlada with the facial value in the center and surrounded at the bottom with laurel branches and strawberries.	Grafila perlada con shield de armas de la República en el centro y año de acuñación en la parte inferior.
12.5 cents (known Like "loach")	Metal: copper-nice Song: smooth	23 mm	Grafila perlada with the facial value in the center and surrounded at the bottom with laurel branches and strawberries.	Grafila perlada con shield de armas de la República en el centro y año de acuñación en la parte inferior.
25 cents (known Like "medium (real)")	Metal: nickel Song: striated	15 mm	Graphile to the center with the effigy of the Liberator looking to the left.	Grafila with dentelo towards the center with the year of coinage divided equally by the coat of arms of the Republic.
50 cents (known Like "real")	Metal: nickel Song: striated	20 mm	Graphile to the center with the effigy of the Liberator looking to the left.	Grafila with dentelo towards the center with the year of coinage divided equally by the coat of arms of the Republic.
1 Bs.	Metal: Nickel Song: striated	23 mm	Effigy of the Liberator looking to the left, graphy with center-oriented lenses.	Republic arms shield, face value and year of coinage.
2 Bs.	Metal: Nickel Song: striated	mm	Effigy of the Liberator looking to the left, graphy with center-oriented lenses.	Republic arms shield, face value and year of coinage.
5 Bs. (known Like "a strong one.")	Metal: Nickel Song: striated	37 mm	Effigy of the Liberator looking to the left, graphy with center-oriented lenses.	Republic arms shield, face value and year of coinage.
10 Bs.	Metal: Aluminium Song: striated	17 mm	The effigy of Simon Bolivar surrounded by a heptagonal edge.	Denomination of the currency, national shield and issuing country.
20 Bs.	Metal: Aluminium Song: smooth	20 mm	The effigy of Simon Bolivar surrounded by a heptagonal edge.	Denomination of the currency, national shield and the issuing country.
50 Bs.	Metal: Steel and nickel Song: striated	23 mm	The effigy of Simon Bolivar surrounded by a heptagonal edge.	Denomination of the currency, national shield and the issuing country.
100 Bs.	Metal: Steel and nickel Song: smooth	25 mm	The effigy of Simon Bolivar surrounded by a heptagonal edge.	Denomination of the currency, national shield and the issuing country.
500 Bs.	Metal: Steel and nickel Song: smooth and streaked	28.5 mm	The effigy of Simon Bolivar surrounded by a heptagonal edge.	Denomination of the currency, national shield and the issuing country.
1000 Bs.	Metal: Nickel in the center, brass in the chant Song: smooth (inscribed "BCV1000")	24 mm	Effigy of Simon Bolivar.	Denomination of the currency, national shield and the issuing country.

Tickets out of circulation (Historical Boulevard)

5 Bolivar Ticket reverse September 1989 Reverso of ticket of 5 bolívares September 1989 10 Bolivar Ticket reverse June 1995 10 Bolivar Ticket Reverso June 1995 1916 Bolivar 10 Ticket reverse Reverso de Ticket de 10 bolívares de 1916 20 Bolivar Ticket reverse June 1995 Reverso de Ticket de 20 bolívares June 1995 50 Bolivar Ticket reverse February 1998 50 Bolivar Ticket reverse February 1998 Reverso de ticket de 50 bolívares February 1998 Reverso de ticket de 50 bolívares February 1998 1890 100 Bolivar Ticket reverse Reverso de Ticket de 100 bolívares de 1890 2 thousand bolívares's bill reverse February 1998 2 thousand bolívares's bill reverse February 1998 2 thousand bolívares' ticket reverse February 1998 2 thousand bolívares' ticket reverse February 1998 2 thousand bolívares' turnover October 1998 2 thousand bolívares' turnover October 1998 2 thousand Bolivar Ticket reverse October 1998 2 thousand Bolivar Ticket reverse October 1998 Reverse and reverse of the 100 bolívares ticket of July 23, 1953 Reverse and reverse of the 100 bolívares ticket of July 23, 1953 Reverse and Reverso of the 50 Bolivar ticket of May 10, 1966 Reverse and Reverso of the 50 Bolivar ticket of May 10, 1966 Reverse and Reverso of the 100 Bolívares ticket of August 8, 1967 Reverse and Reverso of the 100 Bolívares ticket of August 8, 1967

Bolívar Fuerte (VEF) (2008 - 2018)

On March 6, 2007, the Executive Branch of the Republic, authorized by the Enabling Law approved by the National Assembly elected in 2005, issued Decree No. 5,229, with Rank, Value and Force of Law on Monetary Reconversion, reconversion that entered into force on January 1, 2008. Said decree was published in the Official Gazette No. 38,638, where it establishes in Chapter II, Third Provision, that the new transitory monetary unit was called “Bolívar Fuerte” and could be abbreviated with the symbol “Bs. F”. Since then, as part of the currency reconversion process, the denomination, design and valuation of the currency have been changed.

Currency of a strong bolívar in 2009

During this period, the legal tender of the denominations existing before the reconversion and the new species was allowed, understanding that the previous coins and banknotes, as well as any other title, commercial bill, tax impositions and commercial actions (such such as checks, bonuses, salaries, taxes, shares, among others) had to be expressed and traded by dividing their nominal value by one thousand, which was the reconversion factor. The bolivar (Bs.) was identified with the ISO code VEB. The bolívar fuerte (Bs. F) was identified with the new ISO code VEF.

Given the simultaneous circulation of species with converted and unreconverted values, the Central Bank of Venezuela assigned the name of Bolívar Fuerte to the new units, resulting in the currency being called by two names at the same time: "bolívar& #3. 4; (dry) for non-reconverted values; and "bolívar fuerte", with code Bs. F, equivalent to Bs. 1000.00 not converted. and a term was set for the change to reconverted units, of other titles and effects. As of January 2012, all values are expressed and traded reconverted and all currency (coins and bills) and any value in local currency is treated as bolivars, the suffix "fuertes" being unnecessary, according to to express orders of the Central Bank of Venezuela. However, when it is necessary to compare figures from years prior to 2008, it can be used for the purpose of discerning and even the Judiciary established jurisprudence when referring to the previous currency as "historical bolívares& #34;.

In this sense, citizenship must bear in mind that on 31 December of this year (2011) Bs tickets will be released. 50,000, Bs. 20,000, Bs. 10,000, Bs. 5,000 and Bs. 1,000, as well as Bs metal coins. 1,000, Bs. 500, Bs. 100, Bs. 50, Bs. 20, Bs. 10, Bs.5, Bs.2 and Bs.1.

Press BCV, May 31, 2011

Between 2008 and 2011, both the Bolívar (VEB) and the Bolívar Fuerte (VEF) circulated simultaneously in Venezuela, making it necessary to reconvert it into practice for common commercial transactions, as follows (this event stopped on January 1, 2012, with a statement from the Central Bank of Venezuela):

According to estimates by the director of the issuing entity, the reconversion cost the Venezuelan State some Bs. 700,000,000,000 (Seven hundred billion) of bolivars and another Bs. 700,000,000,000 (Seven hundred billion) for the rest of the economic agents of the country, converting its price to the new currency would be 700 million Bs. F and in dollars at that time it was equivalent to around 322,000,000 (three hundred and twenty-two million) dollars.^{[citation required]}

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The bolivar fuerte coins are circular in shape and on the obverse they show the denomination of the coin, the 8 stars of the Venezuelan flag, waves representing the stripes of the national flag, near the Casa de la Moneda de Venezuela, and on the reverse the national coat of arms and the name of the issuing country, except for the one bolivar coin that on the obverse has the effigy of Simón Bolívar by Albert Desiré Barre, while the reverse shows the denomination of the coin, the national coat of arms and the inscription "Bolivarian Republic of Venezuela".

Currency Cone Bolivar Fuerte (currency)

Denomi... nation	Caracte- ristics	Tell me tro.	Reverse	Reversal	Entrance and exit of movement
1 cent	Metal: Copper Borde: striated	15 mm	Denomination of the coin, 8 stars and waves representing the strips of the national flag	National shield and the issuing country	1 January 2008 - August 20, 2018
5 cents	Metal: Copper Borde: smooth	17 mm	Denomination of the coin, 8 stars and waves representing the strips of the national flag	National shield and the issuing country	1 January 2008 - August 20, 2018
10 cents	Metal: Nickel Borde: striated	18 mm	Denomination of the coin, 8 stars and waves representing the strips of the national flag	National shield and the issuing country	1 January 2008 - August 20, 2018
121⁄2 cents	Metal: Nickel Borde: smooth	23 mm	Denomination of the coin, the 8 stars of the national flag and two palms	National shield and the issuing country	1 January 2008 - August 20, 2018
25 cents	Metal: Nickel Borde: smooth Borde: smooth	20 mm	Denomination of the coin, 8 stars and waves representing the strips of the national flag	National shield and the issuing country	1 January 2008 - August 20, 2018
50 cents	Metal: Nickel Borde: smooth and streaked	22 mm	Denomination of the coin, 8 stars and waves representing the strips of the national flag	National shield and the issuing country	1 January 2008 - August 20, 2018
1 Bs.	Metal: Nickel in the center, brass in the chant Borde: smooth with letters in basrelieve "BCV1"	24 mm	Effigy of Simon Bolivar, waves representing the strips of the national flag	Denomination of the coin, the 8 stars, waves representing the strips of the national flag, national shield and the issuing country.	1 January 2008 - August 20, 2018
10 Bs.	Metal: Nickel Borde: slot	21.5 mm	Effigy of Simon Bolivar, waves representing the strips of the national flag, eight stars	Denomination of the currency, waves representing the strips of the national flag, national shield and the issuing country.	14 May 2017 - August 20, 2018
50 Bs.	Metal: Nickel Borde: smooth	23.5 mm	Effigy of Simon Bolivar, waves representing the strips of the national flag, eight stars	Denomination of the currency, waves representing the strips of the national flag, national shield and the issuing country.	28 December 2016 - August 20, 2018
100 Bs.	Metal: Nickel Borde: slot discontinuo	25.5 mm	Effigy of Simon Bolivar, waves representing the strips of the national flag, eight stars	Denomination of the currency, waves representing the strips of the national flag, national shield and the issuing country.	17 March 2017 - August 20, 2018

Bolivar bills were presented in denominations of 2, 5, 10, 20, 50, 100, 500, 1,000, 2,000, 5,000, 10,000, 20,000 and 100,000 bolívares. Their standard size was 156 mm × 69 mm and they were characterized by presenting the effigy of a national hero or heroine on their face, and their reverse is printed with motifs of local fauna.

On November 26, 2016, Interpol issued a purple alert due to an investigation into large amounts of money in one hundred bills in Brazil. On December 4, 2016, the issuance of new bills and coins was confirmed by the inflation in the country. A week later, the President of the Republic, Nicolás Maduro, announced the withdrawal of the 100 bolivar bill from circulation, explaining that it was due to "the Colombian mafias that monopolize Venezuela's paper money".;; in Colombia some people burned the bills and recorded the act on video to later publish it on social networks. On December 16, 2016, the day the 100 bolivar bill legally went out of circulation, protests were held and looting in several states of the country, due to the lack of cash, even in cities abroad, the news caused alarm: in Miami, Venezuelans threw hundred-dollar bills from a building; bills of 500, 1,000, 2,000, 5,000, 10,000 and 20,000 bolivars causing discomfort in the population for not having cash with which to pay; also, the points of sale were failing, causing a serious problem to acquire any services and /or products. That same day, the President of the Republic, Nicolás Maduro, reported that as of December 18, 2016, 65 million 500-bolívar bills and 327 million 50-bolívar bills would be distributed, stating that this would solve the problem of cash shortage. The exchange period for 100-bolívar bills was also extended until January 2, 2017. From this moment on, the validity of the 100-bolívar bill has been extended by decree successively:

1. On December 17, 2016: until January 2, 2017.
2. On December 29, 2016: until January 20, 2017.
3. On January 15, 2017: until February 20, 2017.
4. On February 17, 2017: until March 20, 2017. Shortly before this extension was announced, 30 tons of Venezuelan banknotes were seized in Paraguay and without any value in that territory.
5. On March 17, 2017: until April 20, 2017.
6. April 18, 2017: until May 20, 2017.
7. On May 19, 2017: until July 20, 2017.
8. On July 19, 2017: until September 20, 2017. The 100-to-date ticket is still being sold as a souvenir in Bogotá, in addition to the rest of the monetary cone.
9. September 20, 2017: until November 20, 2017.
10. On November 20, 2017: until January 20, 2018.
11. January 18, 2018: until March 20, 2018.
12. On March 20, 2018: until May 20, 2018.
13. On May 17, 2018: to date of the Monetary Reconversion of the Sovereign Bolivar (4 June 2018).
14. On June 2, 2018: for August 4, 2018.
15. July 25, 2018: for August 20, 2018.
16. On August 20, 2018 they stopped having a legal course.

The monetary cone called Bolívar Fuerte ceased to be legal tender on December 3, 2018.

Sovereign Bolívar (VES) (2018 - 2021)

A chart, with a logarithmic scale, showing the effects of inflation on the currency. It shows the value of the US dollar regarding strong bolívares (before August 20, 2018) and sovereign bolívares in the parallel market. Vertical lines represent every time the currency lost 90% of the value.

Currency of an evil bolívar. Currency of a reverse bolívar. 50 cent coin, reverse. 50 cent coin, reverse.

On March 22, 2018, the President of Venezuela Nicolás Maduro announced a currency reconversion, framed in Decree No. 3,239 of State of Exception and Economic Emergency, by which the new currency will be denominated: Bolívar soberano and could be abbreviated with the symbol Bs.S and its conversion rate would be 1000 VEF equal to 1 Bolívar Soberano. In its Transitory Provision, according to the Decree establishes that the BCV is empowered to order, through Resolution, until what date the new denomination will be used.

This new monetary cone was expected to enter into circulation on June 4, 2018. However, the Executive Branch, meeting with the Banking Association, and at the request of the latter, agreed to extend for sixty (60) days the entry into force, so the new date was scheduled for August 4, 2018.

On July 25, 2018, the application of the monetary reconversion is postponed again until August 20, 2018, due to the hyperinflation existing in the country, which is projected at least a rate of 1,000,000% by the end of of 2018, and for this reason it was now changed with the reduction of five zeros, being the new conversion rate 100,000 VEF equal to 1 VES, also leaving the new currency "anchored to the Petro". Decree No. 3,554, dated July 25 and published in Official Gazette No. 41,446 of the same day, legally specifies the new date of entry of the next monetary cone with exactly the same conditions as Decree No. º 3,332, and with the consequent Resolution 18-03-01 of the BCV. On August 14, 2018, Resolution 18-03-01 was repealed by Resolution 18-07-02, Official Gazette no. 41,460, with new monetary reconversion rules (rounding of decimals and partial coexistence of both monetary cones). The estimated cost of this reconversion Monetary conversion to Sovereign Bolívar is 300 million US$.

On August 20, 2018, the reconversion was finally implemented, removing five zeros,

The bolívar (Bs.) is identified with the ISO code VEF while the bolívar soberano (Bs. S) was identified with the new ISO code VES. It was also assigned the numerical code 928 through the Amendment number 166 of the ISO 4217 standard issued by the Swiss Association for Standardization; in the Windows 10 operating system the currency exchange was received in the cumulative update KB4462933.

On February 15, 2019, the BCV announced through Resolution No. 19-02-01 the return to the use of the denomination "bolívares" and its normal abbreviation "Bs.".

On August 29, 2019, the free convertibility of the currency is restored throughout the national territory in accordance with the Extraordinary Official Gazette 6,405 of the Exchange Agreement Number One, for which the Central Bank will be the one who regulates and administers the new Exchange Market System allowing the North American currency to fluctuate according to supply and demand, ending a dark period of almost two decades in the finances of Venezuela On December 9, 2019, the Sovereign Bolívar becomes the most devalued in the world surpassing the Iranian Rial; while the latter was exchanged at 42,105 rials per US dollar, the bolivar was exchanged at a rate of 43,597 per dollar.^{[citation required]}

In October 2020, the Bolívar (currency) has lost value due to hyperinflation, the Central Bank has recognized the uselessness of the monetary cone, likewise the 10,000 bills went out of public circulation in January 2021 and was circulating alone the 20,000, 50,000 bills, in March 2021 three new bills of 200,000, 500,000 and 1,000,000 bolivars enter into circulation, the other coins and bills have stopped circulating

The equivalences between the current cone and the previous one are the following:

New Monetary Expression (2021)

From October 1, 2021, the New Monetary Expression jointly announced by the National Executive and the Central Bank of Venezuela entered into force, which consists of the division by one million (1,000,000) of the previous monetary scale, in order to simplify transactions, computer systems and accounting records, towards the Bolívar Digital.

With the New Monetary Expression, a new family of coins progressively circulates (Bs. 100, Bs. 50, Bs. 20, Bs. 10, Bs. 5, Bs. 1, Bs. 0.50 and Bs. 0, 25) that coexists with the previous monetary cone.

Obverse: Watermark with the image of Simón Bolívar and electrotype with the text BCV.

Reverse: Image alluding to the 200th anniversary of the Battle of Carabobo with very fine line patterns.

Coexistence of bills from the current monetary cone with the bills and coins of the New Monetary Expression

On October 1, 2021, the New Monetary Expression came into force, which consists of dividing the current scale by 1 million, in order to facilitate transactions. As of October 1, the Bs. 10 thousand, Bs. 20 thousand, Bs. 50 thousand, Bs. 200 thousand, Bs. 500 thousand and Bs. 1 million bills, currently in circulation, coexist with the pieces of the New Monetary Expression, in accordance with Resolution No. 21-08-01 of the Central Bank of Venezuela (BCV).^{[citation required]}

The Resolution approved by the issuing entity states in Chapter III, Article No. 7, that after October 1, 2021, the aforementioned species of the current monetary scale will retain their value as legal tender, until the BCV provides it. The coexistence of the bills of the current monetary cone, after October 1, is to facilitate exact payments together with the bills and coins of the New Monetary Expression.^{[citation required]}

Rate of change

As of December 26, 2022 in the average parallel market, one US dollar is equivalent to 16.57 Bs. and one euro is equivalent to 17.61 Bs. The parallel exchange rate exists in all countries as a free effect competition to official banking institutions and take exaggerated differences when the unstable economy of a country fixes an exchange rate.

Venezuelan oil exports make up 95% of the country's foreign exchange earnings, and the rest is made up of mineral exports such as iron, aluminum, gold, diamonds, bauxite, marble, among others, cocoa, coffee, mango, chemicals, raw materials which are sold using freely convertible currencies and that make up a basket of currencies for Venezuela. These are, then, the official changes published the day before by the Central Bank of Venezuela on its official website: "Informative Rates of the Banking System".

Official BCV rate (19 January 2023)
Country/community	Divisa	VES
USDEuropean Union	Euro (€)	21.72
EuroChinaChina	Yuan (¥)	2.96
ChinaTurkeyTurkey	Lira (application)	1.06
TurkeyRussia Russia	Rublo	0.29
RussiaUnited States	Dollar ($)	19,98

Historical conversion of currencies from other Latin American countries

The currency in history, as in other countries, zeros have been removed due to the reconversion of its currency as well as name changes in its monetary unit.