11+ Venezuela Currency Value Background. Venezuela introduced a new currency, the sovereign bolivar, on august 20th 2018, in an attempt to curb hyperinflation and economic crisis in the country. Peso = 8 reales (silver).

Venezuela High Value Inflationary Denominations Replace Previous Series Of Banknotes Coin Update from news.coinupdate.com

The value was given according to the weight of the pearl. Since august 2018, the national currency became ves (1 ves = 100 000 vef). Venezuela's government devalued the bolivar by 96 percent on tuesday under a new exchange rate announced by the central bank as it desperately tried to steer a way out of its economic crisis.

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These pearls came mainly from the. Get live exchange rates, historical rates & charts for vef to usd with xe's free currency calculator. This is a cost of living indicator. Venezuela's bolivar is now the world's most devalued currency.