VEF - Venezuelan Bolívar

Venezuela, Bolívar

The Venezuelan Bolívar is the currency of Venezuela. Our currency rankings show that the most popular Venezuela Bolívar exchange rate is the VEF to USD rate. The currency code for Bolívares is VEF, and the currency symbol is Bs.. Below, you'll find Venezuelan Bolívar rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read the XE Currency Blog, 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

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Currency Facts

VEF Stats

Name: Venezuelan Bolívar

Symbol: Bs. céntimo: ¢

Minor Unit:
1/100 = céntimo

Top VEF Conversion:
VEF/USD

Top VEF Chart:
VEF/USD Chart

VEF Profile

Inflation: 62.20%

Nicknames: bolo(s), luca(s)

Coins:
Freq Used: Bs.1, 10¢, 25¢, 50¢
Rarely Used: 5¢, 1¢, 12¢

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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XE Currency Converter

Venezuelan Bolívar History

On May 2017, the government of Venezuela changed their multi-tier Venezuelan official exchange rate system, as announced by the government on March 2016.

"Essential" goods are exchanged at a fixed mid-market rate of 9.9875 VEF/USD. This rate is called the “DIPRO”. The Venezuelan government decides what "essential" goods qualify for this rate. They include imports for sectors related to food and medicine but also some oil sector companies.

Imports designated by the government as "non-essential" are subjected to a new system called “DICOM”, where the rate is intended to vary over time. On November 7th, 2017, the mid-market rate of the DICOM system was 3,340.819 VEF/USD. DICOM rates are published by the Venezuelan central bank under TIPO DE CAMBIO here: http://www.bcv.org.ve/ or here: https://www.dicom.gob.ve/

Due to the high rate of inflation in Venezuela over the last few years, there is a high demand in the market for US Dollars (USD). However, official access to US Dollars in Venezuela is limited, which has resulted in a third (unofficial) black market exchange rate valued at around 40,000 VEF/USD (November 2017). The black-market rate has increased rapidly over the last year (January 2016: 833, June 2016: 997, January 2017: 3164, June 2017: 6112).

The situation in Venezuela is evolving rapidly, and XE only carries the DIPRO rate on the website and in our apps.

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