The Bolívar Fuerte has been the official currency of Venezuela since 1st January 2008. At that time, due to high inflation it was subdivided into 100 Céntimos and it replaced the Bolívar at the rate of Bs.F 1 = Bs. 1000. The coinage comes in denominations of 50c Bs.F1 (frequently used) and 1c,5c,10c,12½ and 25c (rarely used). The banknotes come in denomination of Bs.F2, 5,10,20,50 and 100 bills.
The name "Bolívar Fuerte" means "strong bolívar." It draws influence from the old Peso Fuerte coin which was worth 10 Spanish Reales.
The Bolívar was first adopted as the currency of Venezuela in 1879 and replaced the Venezolano at a rate of five Bolívares to one Venezolano. The Bolívar was first defined on the silver standard and was equal to 4.5 grams of fine silver. In 1887 the gold Bolívar was introduced and the gold standard came into full operation until 1930. In 1934 the exchange rate was fixed against the US Dollar.
- céntimo (100)
- January 1st 2008
- Banco Central de Venezuela
- The Caracas Mint