Currency of Venezuela 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 form of coin from the Mexico money supply increased significantly after the Compañía Guipuzcoana de Caracas obtained a trade monopoly in 1729,
National Union of Gold, Silver and Allied Trades than 100 in 1930. It merged with the Society of Goldsmiths, Jewellers and Kindred Trades in 1969, pushing membership up to 250. The union's Irish members transferred to the Irish Transport and General Workers' Union in 1976, but membership of the union generally increased; by 1979, it had risen to 2,308. In 1981, NUGSAT into with the Technical, Administrative and Supervisory Section. National Union of Gold, Silver and Allied Trades The National Union of Gold, Silver and Allied Trades (NUGSAT) was a trade union in Britain and Ireland. It represented workers in precious metals, jewellers, diamond polishers, electroplaters, watch and