Description: 2,000 Bolivares, P-New. Security strip! The Venezuelan bolvar is the official currency of Venezuela. Named after the hero of Latin American independence Simn Bolvar, it was introduced following the monetary reform in 1879, before which the venezolano was circulating. Due to its decade-long reliance on silver and gold standards, and then on a peg to the United States dollar, it was considered among the most stable currencies and was internationally accepted until 1983, when the government decided to adopt a floating exchange rate instead. Since 1983, the currency has experienced a prolonged period of high inflation, losing value almost 500-fold against the US dollar in the process. The depreciation became manageable in mid-2000s, but it still stayed in double digits. It was then, on 1 January 2008, that the hard bolvar (bolvar fuerte in Spanish, sign: Bs.F, code: VEF) replaced the original bolvar (sign: Bs.; code: VEB) at a rate of Bs.F 1 to Bs. 1,000 (the abbreviation Bs. is due to the first and the final letters plural form of the currency's name, bolvares). The value of the hard bolvar, pegged to the US dollar, did not stay stable for long despite attempts to institute capital controls. Venezuela entered another period of abnormally high inflation in 2012, which the country hasn't exited since. The central bank stuck to the pegged subsidised exchange rate until January 2018, which was overpriced so people began using parallel exchange rates despite a ban on publishing them. According to Steve Hanke, in 2016-2019 and again in 2020, the currency experienced hy Item ordered may not be exact piece shown. All original and authentic.
Price: 109 USD
Location: Portsmouth, New Hampshire
End Time: 2024-11-14T16:47:45.000Z
Shipping Cost: 6.25 USD
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Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
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