Venezuela is a country located on the northern coast of South America. It borders the Caribbean sea and the Atlantic Ocean. It has a total of about 353,841 square miles. The capital and largest city of Venezuela is Caracas. After the colonization of Spain in 1522, Spanish became the official language in Venezuela. The Bolívar Soberano is the current currency of Venezuela.
The history of Bolívar of Venezuela Banknote.
The first Bolivar was introduced in 1879 in coin. It is replacing the first coin of Venezuela - the Venezolano. The name Bolivar is derived from the Latin American hero Simón Bolívar. In 1930 and other countries, Venezuela banknote switched the exchange rates from the gold standard to the US Dollar.
In 1945, the first banknote of this country was introduced by the Central Bank of Venezuela. The denomination is available at 10, 20, 50, 100, and 500 bolivares. In 1966, the 5 bolivares were introduced, then was replaced by a coin in 1974. Followed by 1989, the new series was introduced involving the notes of 1, 2, and 5 bolivares. When inflation took place, banknote denominations with large numbers were introduced. In 1991, 1 000 bolivares were introduced, followed by 2 000 and 5 000 bolivares in 1994. Later, in 1998, the 10 000, 20 000, and 50 000 bolivares were introduced.
In 2000, the words on these notes from 5 000 bolivares to 50 000 bolivares were changed to REPÚBLICA BOLIVARIANA DE VENEZUELA. These banknotes were featured with the same concept after several years. The portrait of an important person on the front and a picture of a historic building or remarkable events appeared in Venezuela’s history on the reversed side.
