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Historia de la Moneda Venezolana (in Spanish) Venezuela's monetary history, including a summary of coinage legislation. Las casas de moneda españolas en América del sur (in Spanish), archived from the original on 2008-04-05 , retrieved 2008-03-20 On-line book detailing the history of the Spanish mints in South America.
The bolívar [boˈliβaɾ] is the official currency of Venezuela.Named after the hero of South American independence Simón Bolívar, it was introduced by President Guzman Blanco via the monetary reform of 1879, before which the venezolano was circulating.
In 2008, the Chávez government revalued the Venezuela currency by a ratio of 1:1000, thus creating a new currency known as the bolívar fuerte (Eng.: "bolivar") but kept the currency pegged to a higher rate against the dollar than the market value. Since 2003, this has created a scarcity of foreign currency, as confidence in the bolivar ...
In 2018, Venezuela's debt grew to US$156 billion [310] and as of March 2019, its reserves had dropped to US$8 billion. [311] With the exception of PDVSA's 2020 bonds, [312] as of January 2019, all of Venezuela's bonds are in default, [313] and Venezuela's government and state-owned companies owe nearly US$8 billion in unpaid interest and ...
The New York Times ' Andes Bureau Chief Julie Turkewitz published a recent essay titled "What Happened to Venezuela's Democracy?" which offers a muddled explanation of the nation's unraveling. And ...
Hyperinflation in Venezuela represented by the time it would take for money to lose 90% of its value (301-day rolling average, inverted logarithmic scale) The Venezuelan economy shrank 5.8% in the first three months of 2010 compared to the same period in 2009, [ 28 ] and had the highest inflation rate in Latin America at 30.5%. [ 28 ]
On 29 March 1842, the Congress of Venezuela ordered the minting of 1, ½, and ¼ centavo coins, putting an end to the use of foreign coins for this purpose. [2] To define the value of these smaller coins, the peso was subdivided into 10 reales , each of 10 centavos , following the suit of the Colombian currency. [ 4 ]
The 2009–2010 banking crisis occurred in Venezuela when a number of the banks of Venezuela were taken over by the government, after "the revelation that several banks owned by Hugo Chavez supporters were in financial trouble after engaging in questionable business practices. Some were seriously undercapitalized, others were apparently lending ...