Legal base
Decree no. 4.553 published in the official gazette No. 42.185 of August 6th 2021
Historical overview
The Banco Central de Venezuela was created on September 7th 1939 with the issue of the Act "
Ley del Banco Central de Venezuela"
«
The Central Bank of Venezuela Act», as a goal to centralize the banknotes and coin issuing, which in that time, many banks where issuing banknotes.
Monetary Unit Name
Bolívar Soberano
Time Period
Since October 1st 2021. Coexistence with "
Bolívar Soberano"
Monetary equivalence
100,000,000,000 Bolívares Fuertes (BsF) = 1 Bolívar Digital
10,000 Bolívares Soberanos (BsS) = 1 Centimo (Bolívar Digital)
1,000,000 Bolívares Soberanos (BsS) = 1 Bolívar Digital
Monetary System
100 Céntimos = 1 Bolívar Digital
Catalogation note
For cataloguing purpose as there are no monetary unit change only a redenomination process, name "
Bolívar Digital"
and symbol "
BsD"
will be used.
Note
Officially the monetary unit is "
Bolívar Soberano"
with ISO currency code (VES/928) and symbol "
Bs"
as it's a monetary redenomination by dividing the current value by 1 million starting October 1st 2021.
The ISO Standard created the currency code VED/926 for any internal need during the redenomination process.
The name "
Bolívar Digital"
is used officially to differentiate with the former monetary expression. Informally, "
BsD"
symbol is being used to differentiate to BsS.
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