What you should know about...
Venezuelan Bolívares (VEF)
The VEF is the official currency of Venezuela, with the symbol Bs.
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Exchange rates are dynamic. Always remember to check the applicable rate in-app before carrying out your exchange.
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Learn more about the Venezuelan Bolívares
History
The Venezuelan Bolívares was established as the official currency of Venezuela in 2008. Its introduction was a key development for the nation, and it continues to be a central part of the economic landscape of both Venezuela and South America. Check our guide about the evolution of VEF to USD to learn more about their exchange rate history.Characteristics
The Venezuelan Bolívares is divided into Céntimo. You'll find Venezuelan Bolívares banknotes in 2, 5, 10, 20, 50, 100, 500 bolívares and coins in 1 bolívar.Monetary policy
The Venezuelan Bolívares is managed by the Banco Central de Venezuela, which is responsible for the currency's monetary policy and currency's value. This approach allows the currency to fluctuate based on market conditions, while the central bank retains the ability to intervene to maintain stability and control inflation. This strategic management is crucial for supporting the economic growth and stability of Venezuela.Currency exchange
The value of the Venezuelan Bolívares is determined by a floating exchange rate. This means its value can fluctuate based on global supply and demand, reflecting the country's economic strength and market conditions.
Facts table for the Venezuelan Bolívares (VEF)
| Currency name | Venezuelan Bolívares | |
| Currency code | VEF | |
| Currency symbol | Bs | |
| Minor unit | Céntimo | |
| Minor unit symbol | - | |
| Notes frequently used | 2, 5, 10, 20, 50, 100, 500 bolívares | |
| Coins frequently used | 1 bolívar | |
| Central bank | Banco Central de Venezuela | |
| Users | Venezuela |
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