On January 1, 2008 the national money, the Venezuelan Bolivar, went through a
currency change to the new Bolivar Fuerte which took three zeros from the old Bolivar. 

On Jan. 8, 2010 the Venezuelan government devalued the Bolivar "Fuerte" 100%,
from the official rate of BsF.2,15 to BsF.4,30 to US$1.
There are now 2 official rates - BsF.2,60 for imported food & medicine & BsF.4,3 for the rest.

On Jan. 1, 2011 the BsF.2,6 rate was eliminated so now all exchange will officially be BsF.4,3.

On Feb. 8, 2013 The Venezuelan government devalued the Bolivar from Bs.4,3 to Bs.6,3

In December, 2013 the government devalued the Bolivar for most things including tourists to Bs.11,3

Feb. 15, 2014 the Bolivar has again been devalued - tourist rate is Bs.11,7

April 12, 2014 the Bolivar is now officially Bs.10,0 to US$1

I will attempt to summarize in English from the information provided by Venezuela's Central Bank
how this will affect tourists and investors here in Venezuela.

The main principal of this process was to eliminate three zeroes, 000, from all current coins and bills.
As an example a Bs.50.000 bill will now be BsF.50.

The actual use of the Bolivar Fuerte started January 1, 2008.
On Friday night, Jan. 8, 2010 the government devalued the currency at it's official rate by 100%.
Time will tell how this will affect prices & exchange here in Venezuela from a consumer or tourist point of view.
As soon as things settle I will update this information.

UPDATE: May 18, 2010
Prices here in Margarita Island have risen about 27% in BsF. since Jan. 1
however the black market rate has increased in the same time period
so visitors to Venezuela will not see any dramatic changes.

UPDATE: Feb. 9, 2013
The black market rate has skyrocketed in the last 6 months and while some prices have
 risen as a result for foreign tourists prices are very low. A great time to enjoy your vacation in Margarita Island.

UPDATE: Dec.31, 2013
The black market rate is now 5x the official tourist rate.
The sun is shining & the ocean is warm.
Time to enjoy your inexpensive visit to Margarita!

UPDATE: Feb. 15, 2014
The black market rate is now 6x the official rate
We had dinner for 2 on the beach yesterday with drinks & tip for US$11

UPDATE: January 16, 2015
There is a new official exchange market called SICAD 2.
The rate is Bs.52,10 to US$1
Due to high street exchange rates for $$ prices remain inexpensive for tourists with US$.

UPDATE: February 19, 2015
The government has eliminated the Sicad 2 rate & created a new rate called SIMADI
It opened on Feb. 12, 2015 at a rate of Bs.170 to US$1

It's now around Bs.206 to US$1 (March, 2016)
This will be the rate for exchange houses for cash or TCs.
Also foreign credit card transactions will be at the new rate.
The black market still exists at much higher rates.

UPDATE: March 31, 2016
There are now 2 exchange rates in Venezuela.
DIPRO: Bs.10 to US$1 ONLY for imports of essential products like food & medicine
DICOM: Bs.270 to US$1 for most everything else including credit cards & exchange houses
The black market still exists at much higher rates.

UPDATE: October 24, 2017
DICOM (official) - Bs.3.345 to US$1
This will be the rate for exchange houses to buy US$ cash.
You can't buy US$ cash with Bolivars.
Also foreign credit card transactions will be at the new rate.
The black market still exists at MUCH higher rates.

Additional Update: October 24, 2017
On Sunday, Dec. 11, 2016 our president announced that all Bs.100 bills would be
withdrawn from circulation by Thursday, Dec. 15, 2016
(Extended to Jan. 2, again extended to Jan. 20, again extended to Feb. 20,
extended again until March 20, extended again until April 20,
extended again until May 20, and again extended until July 20,
again extended to Sept. 20, again extended until Nov. 20)
He closed the borders with Colombia & Brasil for 72 hours to prevent people
with Bs.100 bills returning them to Venezuela.
The new bills, as of today, are are slowly being introduced in circulation.
They are to be introduced intermittently - probably ???? before they are fully distributed
ATMs are still mostly dispensing Bs.100 bills - no new ones with few exceptions.

UPDATE: August 13, 2018
Official DICOM rate is a
pprox. Bs.248.832 to US$1)
HOWEVER the parallel or black market rate is MANY times higher than that.
You can't officially buy US$ cash with Bs. in Venezuela
There is VERY little cash in Bolivars in either the banks or on the street.
Maximum withdrawal from ATM machines is just Bs.12.000 or less daily (about US$0.01).
Cash in Bs. on the street will carry a premium of more or less 300% up to 500%.
Need Bs.100.000 cash, pay Bs.400.000 or more

UPDATE: November 27, 2018
Official DICOM rate is now BsS.80.26 to US$1
Black market rates are MUCH higher
On Aug. 20. 2018 five 0s were removed from the current currency.
I will shortly create a new page with the new Bolivar Soberano bills.

UPDATE: September 2, 2019
Official DICOM rate is now BsS.22.187 to US$1
Black market rates are higher
All old Bs. (2008 to 2018) have no value as of Dec. 5, 2018
Cash is more readily available but not in great quantities.

Here is a breakdown of the new currency

New bills of Bs.500, Bs.1.000, Bs.2.000,
Bs.5000, Bs.10.000, Bs.20.000 & Bs.100.000
(VERY slowly being introduced)
BsF. 1 (un bolivar fuerte) (prev. Bs.1000) BsF 100 (cien bolívares fuerte) - to be eliminated
BsF. 0,50 (cincuenta céntimos) (prev. Bs.500 BsF. 50 (cincuenta bolívares fuerte) prev. Bs.50.000
BsF. 0.25 (veinticinco céntimos) BsF. 20 (veinte bolívares fuerte) prev. Bs.20.000
BsF 0.125 (doce céntimos y medio) BsF. 10 (diez bolívares fuerte) prev. Bs.10.000 (to be eliminated)
BsF. 0.10 (diez céntimos) (prev. Bs.100) BsF. 5 (cinco bolívares fuerte) prev. Bs.5.000 (to be eliminated)
BsF 0.05 (cinco céntimos) (prev. Bs.50) BsF. 2 (dos bolívares fuerte) prev. Bs.2.000 (to be eliminated)
BsF. 0.01 (un céntimos)  

Here is a recently published chart showing the new bills
and coins (monedas) to be issued.

Here are the images of the new Venezuelan currency to be
issued slowly starting January 16, 2017

Here are the new Venezuela coins to be issued.

For Images of the old Bolivar Fuerte (2008 to 2016) CLICK HERE!

If you have money in Bolivars in a Venezuelan bank it was automatically changed into Bolívares Fuerte on January 1, 2008.
If you have regular Bolivars left over from a previous trip you can readily change them into Bolívares Fuerte at any bank.
If you have an existing contract, say for apartment rental, etc.,
in regular Bolivars then it was automatically changed to Bolívares Fuerte starting on January 1, 2008.

Any tourist visiting Margarita Island in 2018 will not be affected by this change.
The money you will receive when you change your dollars, etc will be the new currency.
The official exchange rate of Bs.2150 to US$1 simply changed to BsF. 2,15 to US$1.
This has now changed to BsF.4,3 to US$1 as of Jan. 1, 2011
This has now changed to Bs.6,3 to US$1 as of Feb. 8, 2013
This has now changed to Bs.11,3 to US$1 as of late December, 2014
This has now changed to Bs.12,0 (Sicad 1) & Bs.52,10 (Sicad 2) on January 16, 2015
This has now changed to Bs.206 (SIMADI) March, 2016
This has now changed to Bs.3.345 (DICOM) January 13, 2018
This has now changed to official DICOM
approx. Bs.248.832 to US$1 Aug. 13, 2018
This has now changed to the new Bolivar Soberano (as of Aug. 20, 2018)
The new DICOM rate is BsS.22.187 to US$1 September 2, 2019

If anyone has any questions or doubts about these changes just send me an e-mail and I will try & answer them.

Margarita Tropical Villa Pool
Margarita Tropical Villa bed and breakfast (posada), Playa el Agua, Margarita Island, Venezuela
Bed & breakfast in Playa El Agua. 10 rooms with king size beds,
A/C, pool, fridges, DirecTV, free Internet & breakfast
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