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It was then, on 1 January 2008, that the hard bolívar (bolívar fuerte in Spanish, sign: Bs.F, code: VEF) replaced the original bolívar (sign: Bs; code: VEB) at a rate of Bs.F 1 to Bs. 1,000 [1] [7] (the abbreviation Bs. is due to the first and the final letters of the plural form of the currency's name, bolívares).
The Bolívar fuerte (ISO 4217 code: VEF; Bs.F) replaced the bolívar on January 1, 2008 at 1 bolívar fuerte for 1000 old bolívares, and old notes ceased to be legal tender on January 1, 2009. In preparation for the conversion, all prices were expressed in both bolívars and bolívars fuertes from October 1, 2007.
El Fuerte, Sinaloa, a city of Sinaloa, Mexico; El Fuerte, a character in the Street Fighter video game series; Fuerte may also refer to: "bolívar fuerte", the official name of the Venezuelan bolívar; Fuerte River, a river in Sinaloa, Mexico; Fuerte, a variety of avocado "Fuerte" (song), a song by Nelly Furtado; Fuerte, by Miranda!
On 7 March 2007, the government announced that the Venezuelan bolívar would be redenominated at a ratio of 1 to 1,000 at the beginning of 2008 and renamed the bolívar fuerte ("strong bolivar") to ease accounting and transactions. This was carried out on 1 January 2008, at which time the exchange rate was 2.15 bolívar fuerte per US$. [188]
In May 2015, the Bolivar Fuerte lost 25% of its value in a week, with the unofficial exchange rate being at 300 Bs.F. per US$1 on 14 May and reaching 400 Bs.F. per US$1 on 21 May. [118] [119] The Bolivar Fuerte dropped sharply again in July 2015, passing 500 Bs.F. per US$1 on 3 July and 600 Bs.F. per US$1 on 9 July.
In 1879, [1] the Latin Monetary Union bimetallic standard was adopted, with the silver venezolano (venezolano de plata or fuerte) of 25g .900 fine and a gold venezolano of 1.612 g .900 fine. The subsidiary silver coinage was only .835 fine, legal tender to a maximum of 40 venezolanos per transaction.
The peso (local name peso fuerte) was a currency of Venezuela until 1874. It was subdivided into 10 reales, each of 10 centavos. History.
January 1, 2008 – New legal tender, the bolívar fuerte (Bs. F.), is introduced; January 1, 1803 – Birth of Manuel Felipe de Tovar, politician, President of Venezuela (d. 1866) January 1, 1953 – Birth of Fulgencio Obelmejias, boxer; January 1, 1965 – Death of Mariano Picón Salas, writer, diplomat and academic (b. 1901)