Bolivar Fuerte is the basic unit of currency of VENEZUELA. The currency ISO code of Bolivar is VEF. On January, 1, 2011, the Venezuela abolished the double system exchange rate. The Bolivar Fuerte is pegged to the dollar at a rate of 4.30. On January 1, 2008, The Bolivar Fuerte replaced the Bolivar at a rate of 1 VEF = 1000 VEB.