About the Venezuelan Bolívar Soberano
The Bolívar Soberano (VES) was introduced in 2018, replacing the Bolívar Fuerte (VEF) at a rate of 1 VES = 100,000 VEF, in an attempt to combat hyperinflation. This was followed by another redenomination in 2021, removing six more zeros.
The currency is named after Simón Bolívar, the leader of Venezuelan independence.
Interesting Facts
A Hyperinflationary History
The Venezuelan Bolívar has undergone multiple redenominations, removing a total of 14 zeros since 2007, a stark indicator of the country's severe and prolonged hyperinflationary crisis.
Simón Bolívar's Legacy
All banknotes feature the portrait of Simón Bolívar, the revered liberator of much of South America, alongside other national heroes.
Oil-Rich, Yet Crisis-Stricken
Despite possessing the world's largest proven oil reserves, Venezuela's economy has been devastated by mismanagement, corruption, and sanctions, leading to the collapse of its currency.
Historical Timeline
The Bolívar is introduced.
The Bolívar Fuerte (VEF) replaces the old Bolívar, removing three zeros.
The Bolívar Soberano (VES) replaces the Bolívar Fuerte, removing five zeros.
Another redenomination removes six zeros, making the total removed 14 zeros since 2007.
Denominations
Banknotes
Security Features
Quick Facts
- ISO Code
- VES
- Symbol
- Bs.S
- Numeric Code
- 928
- Subunit
- Céntimo (1/100)
- Introduced
- 2018-08-20
Central Bank
- Name
- Central Bank of Venezuela
- Headquarters
- Caracas, Venezuela
- Founded
- 1940
- Current Governor
- Tamara Herrera (since 2020)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 189.8%
Exchange Rates
What Affects the VES Exchange Rate?
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