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 Venezuela Union system, based on the silver fuerte (venezolano de plata) of 25·000 g, 0·900 fine, and the gold venezolano of 1·6129 g, 0·900 fine. The 20-venezolano gold piece was named the "Bolívar". Coins were ordered from Paris; foreign coin was to remain in circulation until they arrived. New ratings were published July 2. From January 1, 1872 all accounts had to be converted and expressed in venezolanos and centavos. On February 13, 1874 the circulation of coin worn on both sides was prohibited and a new table of ratings for foreign coin was published. When the coinage of 1873–1874 was