Venezuelan bolívar

Venezuelan bolívar
bolívar venezolano (Spanish)

Obverse of the 2001 100 bolívares coin Reverse of the coin
ISO 4217 Code	VEB
User(s)	Venezuela
Inflation	16%
Source	The World Factbook, 2005 est.
Subunit
1/100	céntimo
Symbol	Bs
Plural	bolívares
Coins	10, 20, 50, 100, 500, 1000 bolívares
Banknotes	1000, 2000, 5000, 10000, 20000, 50000 bolívares
Central bank	Banco Central de Venezuela
Website	www.bcv.org.ve

The bolívar (ISO currency code: VEB; locally abbreviated as Bs.) is the currency of Venezuela. It is nominally subdivided into 100 céntimos, although coins denominated in céntimos no longer circulate.

The bolívar was introduced in 1879, replacing the short-lived venezolano at a rate of 1 venezolano = 5 bolívares. Until the 1970s, the bolívar was the region's most stable and internationally accepted currency. Subsequently, it has fallen victim to high inflation.

As of November 24, 2006, the currency is pegged to the U.S. dollar at a fixed exchange rate of 2150 bolívares to the dollar by the BCV, although the open market rate as of the same date is 3224.2 bolivares to the dollar. ^{[citation needed]}

Coins

The coins in current circulation are:

• 10 bolívares
• 20 bolívares
• 50 bolívares
• 100 bolívares
• 500 bolívares
• 1,000 bolívares (new in 2006)

All the coins have the same design. On the obverse it is depicted the left profile of the Libertador Simón Bolívar, together with the inscription "Bolívar Libertador", within a heptagon, symbolizing the seven stars of the flag. At the reverse it is depicted the coat of arms, circled by the official name of the country, the emission year and the denomination below. Since 2001 the reverse design was changed, putting the denomination of the coin at the right of the shield of the coat of arms, semicircled by the official name of the country and the year of its emision below.

Banknotes

The following is a list of Venezuelan banknotes in current circulation. The earlier designs of the 1000, 2000 and 5000 banknotes are still in use, together with their new design.

Image		Denomination	Emission Year	Obverse	Reverse
		500 bolívares	1981	Simón Bolívar	A branch of orchids
		1,000 bolívares	1991	Simón Bolívar	Signing of the Venezuelan Declaration of Independence
		1,000 bolívares (new design)	1998	Simón Bolívar	A branch of orchids, the Cerro El Ávila, and the Panteón Nacional
		2,000	1994	Antonio José de Sucre	The Battle of Junín
		2,000 bolívares (new design)	1998	Andrés Bello	A picture of frailejones and a view of the Pico Bolívar
		5,000 bolívares	1994	Simón Bolívar and his coat of arms	A reproduction of the painting El 19 de Abril de 1810 by Juan Lovera
		5,000 bolívares (new design)	2000	Francisco de Miranda	Picture of two angelfishes and a panorama of the Guri Dam.
		10,000 bolívares	2000	Antonio José de Sucre	A Marpesia petreus butterfly and the Tribunal Supremo de Justicia
		20,000 bolívares	2000	Simón Rodríguez and the Angel Falls in the background	A Blue-and-yellow Macaw and the Angel Falls
		50,000 bolívares	1998	José María Vargas	The Student's Square in the Ciudad Universitaria and the clock in it

External links

• Numismatic Catalog of Venezuela
• History of Venezuelan Currency (Spanish)

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