Currency of Venezuela 1, 2009. In preparation for the conversion, all prices had been expressed in both bolívars and bolívars fuerte since October 1, 2007. Currency of Venezuela This article provides a historical summary of the currency used in Venezuela since the end of the 18th century. For the present currency of Venezuela, see Venezuelan bolívar. Peso = 8 Reales (silver) Escudo = 2 Pesos (gold) History Venezuela shared the common Spanish-American monetary system, based on the silver peso and the gold escudo, current throughout Spanish America. Trade, especially in cacao, brought money to the colony in the late 17th century in the
Currency of Colombia fine, weighing 25.806 g. Granadino = 10 Reales = 100 Centavos The monetary law of 27 April 1847 adopted the decimal system and authorized silver coins of France, Belgium, and Sardinia to circulate at two reales per franc (the rate at which tax offices would receive them). It also provided for a silver coin of 10 reales, the "granadino", and equivalent to the French écu (5 francs). Minting of .666 fine silver finally ceased in 1847, save for the cuartillo (1/4 real) authorized on 30 March 1849. Moreover, Mosquera's efforts to withdraw the macuquina succeeded, and by 1 January 1849