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In 1890, Banco Comercial was reorganized as Banco de Venezuela, which then bought out Banco de Carabobo. Banco de Maracaibo was founded July 20, 1882 by the Sociedad de Mutuo Auxilio de Maracaibo as a merchant bank without any links to the government. It began issuing notes in 1883 for 20, 50, 100 bolívares, adding a 400 in 1917.
In 1940, the Banco Central de Venezuela began issuing paper money, introducing denominations of Bs. 10, Bs. 20, Bs. 50, Bs. 100 and Bs. 500. Bs. 5 notes were issued between 1966 and 1974, when they were replaced by coins.
Central Bank of Venezuela Building. The Central Bank of Venezuela (Spanish: Banco Central de Venezuela, BCV) is the central bank of Venezuela.It is responsible for issuing and maintaining the value of the Venezuelan bolívar and is the governing agent of the Venezuelan Clearing House System (including an automated clearing house).
Venezuela, [c] officially the Bolivarian Republic of Venezuela, [d] is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in the Caribbean Sea. It comprises an area of 916,445 km 2 (353,841 sq mi), and its population was estimated at 29 million in 2022. [18]
Venezuela's economy is highly dependent on oil production and exportation. [2] Venezuela is a member of the Organization of Petroleum Exporting Countries. Its economy is prone to disruption given that price of oil fluctuates rapidly. In 2014, oil prices dropped. Since then Venezuela has had to adapt to a significant decrease in state revenue.
Venezuelan passport (Spanish: Pasaporte venezolano) are issued to citizens of Venezuela to travel outside the country. Biometric passports have been issued since July 2007, with a RFID chip containing a picture and fingerprints; passports issued earlier remained valid until they expired.
The 1980s and 1990s were also a golden age of television in Venezuela. A number of Venezuelan telenovelas became popular internationally: Leonela (1983), Cristal (1984), Abigail (1988), Kassandra (1992), and Por estas calles (1992), all from RCTV; and Las Amazonas (1985), Ka Ina (1995), and El país de las mujeres (1998) from Venevisión.
On 27 August 1811, with the United States of Venezuela (Estados Unidos de Venezuela) having declared their independence, the recently established Supreme Congress of Venezuela (Congreso Supremo de Venezuela) establishes the peso with an equivalence of 8 reales to 1 peso and an initial issue of one million pesos in paper money. [2]