VEF - Venezuelan 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
Currency Facts
Name: Venezuelan Bolívar
Symbol: Bs. céntimo: ¢
Minor Unit:
1/100 = céntimo
Top VEF Conversion:
VEF/USD
Top VEF Chart:
VEF/USD Chart
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
Have more info about the Venezuelan Bolívar?Email us ▶
Why are you interested in the VEF?
- Send a cheap Money Transfer to the USA ▶
- Send a cheap Money Transfer to the UK ▶
- Send a cheap Money Transfer to Canada ▶
- Send a cheap Money Transfer to Australia ▶
- Send a cheap Money Transfer to New Zealand ▶
- Get a VEF currency data API for my business ▶
- Subscribe to VEF email updates ▶
- Read Currency Market Analysis ▶
- Get VEF rates on my phone ▶
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.
