Venezuelan bolívar

Currency of Venezuela

The bolívar is the official currency of Venezuela. Named after the hero of South American independence Simón Bolívar, it was introduced following the monetary reform in 1879, before which the venezolano was circulating. Due to its decades-long reliance on silver and gold standards, and then on a peg to the United States dollar, it was considered among the most stable currencies and was internationally accepted until 1964, when the government decided to adopt a floating exchange rate instead.

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