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
History of Chinese currency further reform was instituted in August 1948 in response to hyperinflation. The Gold Yuan Certificate replaced the fabi at the rate of 1 gold yuan = 3 million yuan fabi = US$0.25. The gold yuan was nominally set at 0.22217 g of gold. However, the currency was never actually backed by gold and hyperinflation continued. Finally, in 1949, the Kuomintang again announced a reform with the introduction of the Silver Yuan Certificate, returning China to the silver standard. The silver yuan would be exchanged at 1 silver yuan = 100 million gold yuan, and was backed by silver dollars minted