The bolivar was adopted by the monetary law of 1879, replacing the short-lived Venezolano. the bolivar was defined on the silver standard, equal to 4.5gr. of fine silver. After the black Friday in 1983 the bolivar had been the regions most stable currency.
In 2007 the goverment revalued and renamed it to BOLIVAR FUERTE which means "strong bolivar"
The Central Bank of Venezuela is promoting the new currency with an ad campaign and slogan "Una economia fuerte, un bolivar fuerte, un pais fuerte.
The Bolivar fuerte exchages for 7 for 1 US dollar. It is illegal to publish this statistic in Venezuela.
