VENEZUELA: New 2008 Banknote Series

The bolivar fuerte has become the new currency of Venezuela since January 1, 2008, after the bolivar was redenominated at a ratio of 1 to 1000 and renamed. The Central Bank is promoting the new banknotes with the slogan: “A strong economy, a strong bolivar, a strong country”.
Six new denominations (2, 5, 10, 20, 50 and 100 bolivares fuertes) are united by common themes which were chosen as the basis for the banknote designs. Appearing on the banknotes are famous historical and contemporary figures as well as rare but well-known representatives of the country’s flora and fauna. The new notes feature first ever images of a woman and national heroes of aboriginal and African origin. The back sides of the banknotes depict animals facing extinction in hopes to agitate the Venezuelans to preserve the country’s biological diversity. The scenic views, against which the animals are depicted, symbolize the geographical richness of the South-American continent. The former horizontal banknote design was switched to new vertical. Moreover, new security features were added: electrotype watermark, wide windowed security thread, and raised symbol for the blind.
The face side of the 2 Bolivar banknote shows Francisco de Miranda (1750—1816) who was a Venezuelan revolutionary who fought for the independence of Venezuela. He also participated in revolutions in the United States and France. The back side depicts Amazon River dolphins, the Medanos de Coro National Park known for its sand dunes, and Gusano flor, a type of marine worms spread in the Caribbean Sea, Pacific and Atlantic oceans.
The 5 Bolivar banknote has Pedro Camejo (1790—1821), also known as ’The First Black’, on the front side. After serving the Venezuelan royal army, he joined the rebels and became the first lieutenant of color in the Simon Bolivar’s army. Giant Armadillos with Venezuelan plains that run for more than 260000 km2 in then background are depicted on the back.
Guaicaipuro (circa 1530—1568), chief of indigenous Venezuelan tribes fighting against the Spanish conquest, is shown on the face of the 10 Bolivar note. The American Harpy Eagle, whose population is decreasing due to the activity of men, is depicted on the back of the note against the Ucaima Falls located in the Canaima National Park, the largest in the country.
Depicted on the face of the 20 Bolivar note is Luisa Caceres de Arismendi (1799—1866), heroine of the Venezuelan War of Independence, whose remains were entombed in the Panteon Nacional. The critically endangered hawksbill turtles are depicted on the back against the Macanao Mountain.
Simon Rodriguez (1769—1854), South American philosopher and educator, notably Simon Bolivar’s mentor, who left the country for political reasons, appears on the face of the 50-bolivar note. The Spectacled Bear, a threatened species, is placed on the back of the note against the background of Laguna Santo Cristo in the Sierra Nevada National Park, where the country’s tallest mountain is located.
Finally, the face of the 100 Bolivar note shows Simon Bolivar (1783—1830), President of Venezuela, one of the most important leaders of South America’s struggle for independence from Spain. On the back the Red Siskin, whose world population barely exceeds several thousands, is depicted against the El зvila National Park.
Besides the new name, the bolivar fuerte received a new ISO 4217 code. The official fixed exchange rate of the bolivar fuerte is 2.15:1 US dollar, whereas the black market value reached 5.2 to the U.S. dollar. This statistic is illegal to publish in Venezuela.
The old currency will circulate in parallel with the bolТvar fuerte for another half a year.

Note! We published the detailed description of the new notes’ design and security features in the April issue.