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VEF - Venezuelan Bolivar

Venezuela, Bolivar

The Venezuelan Bolivar is the currency of Venezuela. Our currency rankings show that the most popular Venezuela Bolivar exchange rate is the VEF to USD rate. The currency code for Bolivares is VEF, and the currency symbol is Bs.. Below, you'll find Venezuelan Bolivar rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read Venezuelan Bolivar News, or take VEF rates on the go with our XE Currency Apps and website.

Notice: The Bolivar Fuerte has two official rates. More info 

Top VEF Exchange Rates

Click on a currency code to learn about it.

Currency Facts

VEF Stats

Name: Venezuelan Bolivar

Symbol: Bs. céntimo: ¢

Minor Unit:
1/100 = céntimo

Top VEF Conversion:
VEF/USD

Top VEF Chart:
VEF/USD Chart

VEF Profile

Inflation: 56.2%

Nicknames: bolo(s), luca(s)

Coins:
Freq Used: Bs.1, 10¢, 25¢, 50¢
Rarely Used: 5¢, 1¢, 12.5¢

Banknotes:
Freq Used: Bs.2, Bs.5, Bs.10, Bs.20, Bs.50, Bs.100

Central Bank:
Banco Central de Venezuela
Website: http://www.bcv.org.ve

Users: Venezuela

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Venezuelan Bolivar History

On January 2010, the government of Venezuela created a two-tiered official exchange rate system. Imports designated as "non-essential" receive a rate of 4.3 bolivares per dollar, and "essential" goods are exchanged at a rate of 2.6. There is also a third and unofficial exchange rate in the black market valued at around 6.8 bolivares per dollar (March 2010).

The Venezuelan government decides what "essential" goods qualify for the 2.6 rate. They include imports for sectors related to food, health, education, equipment, and technology; remittances to relatives settled abroad; students' academic expenses abroad; expenses related to health, sport, culture, and scientific investigations; payments to retired and resident pensioners abroad; and currency conversions related to diplomatic activities. Full details (in Spanish) can be found through the Central Bank of Venezuela.

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