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Venezuela - Venezuelan bolívar - Currency Guide

 

Foreign exchange guide to Venezuela and the Venezuelan bolívar (VEF)

     

VEF News, Forecasts and Trends

The below interactive chart shows the USD to VEF exchange rate, trend and recent alerts for the last 90 days.

   
Recent USD to VEF 90-day trend
 
No alerts
USD to VEF was steady at the 90-day average 248487.64. There are no current rate alerts.

US Dollar to Venezuelan bolívar - Historical Rates

USD/VEF rateChangePeriod
08 Jul 2020 : 248487.6422no change1 Week
15 Jun 2020 : 248487.6422no change30 Days
16 Apr 2020 : 248487.6422no change90 Days
16 Jul 2019 : 248487.6422no change1 Year
17 Jul 2015 : 6.32063931293.3% ▼5 Years
18 Jul 2010 : 4.30005778682.4% ▼10 Years
USD/VEF 10 year historic rates & changes to 15-Jul-2020 : 248487.6422
 

U$1,000 USD
=
Bs248,487,642 VEF

Converted at USD/VEF wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

US Dollar to Venezuelan bolívar - Quick Conversions

USD VEF
U$ 1 Bs 248,488
U$ 5 Bs 1,242,438
U$ 10 Bs 2,484,876
U$ 20 Bs 4,969,752
U$ 50 Bs 12,424,380
U$ 100 Bs 24,848,760
U$ 250 Bs 62,121,900
U$ 500 Bs 124,243,800
U$ 1,000 Bs 248,487,600
U$ 2,000 Bs 496,975,200
U$ 5,000 Bs 1,242,438,000
U$ 10,000 Bs 2,484,876,000
U$ 50,000 Bs 12,424,380,000
U$ 100,000 Bs 24,848,760,000
More amounts
USD VEF
U$ 0.0000 Bs 1
U$ 0.0000 Bs 5
U$ 0.0000 Bs 10
U$ 0.0001 Bs 20
U$ 0.0002 Bs 50
U$ 0.0004 Bs 100
U$ 0.0010 Bs 250
U$ 0.0020 Bs 500
U$ 0.0040 Bs 1,000
U$ 0.0080 Bs 2,000
U$ 0.0200 Bs 5,000
U$ 0.0400 Bs 10,000
U$ 0.2000 Bs 50,000
U$ 0.4000 Bs 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Venezuela?

The domestic currency in Venezuela is the Venezuelan bolívar.

What is the Venezuelan bolívar currency code and symbol?

The three letter currency code for the Venezuelan bolívar is VEF — symbol is Bs.

Which countries use the Venezuelan bolívar?

It is the domestic currency in    Venezuela.

Is the Venezuelan bolívar a closed currency?

Yes the Venezuelan bolívar is a closed currency. Which means that you may find it difficult to purchase the currency (VEF) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.

For more information and a full list of closed currencies please refer to our guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Venezuela

The Bolivarian countries are six Hispanic American countries (Bolivia, Colombia,Ecuador, Panama, Peru and Venezuela) whose republican origin is attributed to the ideals of Simón Bolívar and independence war led by the Venezuelan military in the viceroyalties of New Granada and Peru.

The currency is the Bolivars. Debit and credit cards are widely used in Venezuela and have the advantage of removing the need to carry large amounts of cash. However, international credit cards aren't always accepted by point of sale machines and you'll have to enter your passport number. ATMs have extremely low limits for cash withdrawals on international cards and queues at ATMs are frequently targeted by criminals. You shouldn't rely on ATMs as your main way to access money in Venezuela. Use official currency exchange booths only, which should change money at the higher of the two official rates (DICOM). It’s illegal to change money on the black market. There are no facilities for visitors to change bolivares to US dollars, or any other currency, when leaving Venezuela.

Due to ongoing crime, unrest and instability throughout Venezuela the Foreign and Commonwealth Office (FCO) further advises against all but essential travel to most areas of the country. Regular large political demonstrations in Caracas have led to arrests, injuries and deaths throughout 2017. If you''re in Venezuela, you should remain vigilant and informed, avoid protests and demonstrations – which can turn violent with little warning – and keep your departure options under review.

 

Travel money for Venezuela

As mentioned above, the Venezuelan bolívar is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (VEF) before departure and will need to buy it upon arrival in Venezuela.

For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the VEF you will incur currency conversion or foreign transaction fees if you use a travel money card in Venezuela.

However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.

 

Sending money to Venezuela

When searching around for information on how to get a good exchange rate when sending money to Venezuela you need to start with finding out the latest Venezuelan bolívar exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.


Get a better deal for foreign transfers to Venezuela

When sending money to Venezuela it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Venezuelan bolívar amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted VEF amount will be transfered to the recipient account you specify in Venezuela.

Use the above Send to Venezuelan bolívar calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Venezuelan bolívar deposited into the recipient bank account and less margins and fees kept by the banks!


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