Refer to our legal section here.įinancial spread betting is only available to OANDA Europe Ltd customers who reside in the UK or Republic of Ireland. Trading through an online platform carries additional risks. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Information on this website is general in nature. You may lose more than you invest (except for OANDA Europe Ltd retail customers who have negative balance protection). We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. All other trademarks appearing on this Website are the property of their respective owners. "OANDA", "fxTrade" and OANDA's "fx" family of trademarks are owned by OANDA Corporation. Until February 18, 1983, now called Black Friday by many Venezuelans, the Bolívar had been the most stable and internationally accepted currency.In 1937, it was revalued to 3.18 Bolivares = 1 USD, a rate which lasted until 1941.Venezuela went off the gold standard in 1930, and in the 1934 the Bolívar exchange rate was fixed in terms of the US Dollar at a rate of 3.914 Bolivares = 1 USD.
#VENEZUELA CURRENCY COMPARE TO DOLLAR FULL#
The monetary law of 1887 made the gold Bolívar unlimited legal tender, and the gold standard came into full operation in 1910. Initially, the Bolívar was on the silver standard, equal to 4.5 g fine silver, following the principles of the Latin monetary union.The Bolivar was adopted by the monetary law of 1879, replacing the short-lived venezolano at a rate of 5 Bolivares = 1 Venezolano.Venezuela has one of the highest inflation rates in the world, averaging 29.1% in 2010, according to the CIA world fact book.With high oil prices and rising government expenditures, Venezuela's economy grew by 9% in 2007, but was expected to shrink by 2.9% in 2009 and further in 2010. During the collapse of oil prices in the 1980s the economy contracted.From the 1950s to the early 1980s the Venezuelan economy experienced a steady growth that attracted many immigrants.Venezuela is the fifth-largest member of OPEC by oil production.The economy of Venezuela is largely based on the petroleum sector, which accounts for roughly a third of the GDP, around 80% of total exports, and more than half of government operating revenues.It is subdivided into 100 céntimos and replaced the Bolivar at the rate of Bs.F. The Bolívar Fuerte has been the official currency of Venezuela since January 1, 2008.
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