Republica Bolivariana de Venezuela
(Bolivarian Republic of Venezuela)
Banco Central de Venezuela (BCV)
(Central Bank of Venezuela)
Currency - Bolivar (VEF)
Here are three hyperinflation banknotes of 200,000, 500,000 and 1,000,000 bolivares all printed with the date of 03.09.2020. It is not sure if these notes are still worth the paper printed on. The instability of the bolivar started in 2016 due to ongoing socioeconomic and political crises. Whilst the current highest value is 1,000,000 bolivares, going forward, we may see even higher denominations released if the situation does not improve. The bolivares are so weak and worthless that even the Venezuelans used them as materials to make into art and craft items for sale. Cash was scattered in the street during the Presidential crises that no one even bothered to pick them up. Talk about free cash popping up in the streets!
The designs for the 200,000 and 500,000 bolivares are the same as those issued in 2019 with Venezuelan hero General Simon Bolivar (b.1783-1830) portrait printed on the front and on the back, printed with National Pantheon in Caracas and Mausoleo Del Libertador Simon Bolivar (Mausoleum of the Liberator Simon Bolivar).
Unlike the above two notes, the 1,000,000 bolivares note is a commemorative banknote. This note is issued to celebrate the 200th Year of the Battle of Carabobo (1821-2021). The Battle of Carabobo was fought between the forces led by General Simon Bolivar and the Spanish forces led by Field Marshal Miguel de la Torre, which led to the independence of Venezuela. On the front of this note, the design is the same as those 200,000 and 500,000 bolivares.
It should be noted that the 1.0M bolivares is the largest denomination ever issued in the modern history of Venezuela. Seeing these hyperinflation banknotes reminded me that many countries, at one stage, had gone through the same experience as well, countries like Hungary, Germany, China, Yugoslavia, Brazil, Argentina, Iran and Zimbabwe, to name a few. Some countries opted to control the runaway inflation rates by totally abandoning its own currency by adopting strong foreign and stable currencies instead to stabilise the situation and to bring back some forms of economic normality back into the systems. The most common currencies adopted are the US greenback and the Euro and in the case of Zimbabwe, it accepts the South African rand, Chinese yuan, British pound and others too etc.
Signatures
President (BCV) - Calixto Ortega Sanchez
Vice President (BCV) - Sohail Hernandez
Dimensions - 157mm x 69mm (all three notes)
Two Hundred Thousand Bolivar
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| Dated 2020, General Simon Bolivar (b.1783-1830) |
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| National Pantheon in Caracas and Mausoleo Del Libertador Simon Bolivar (Mausoleum of the Liberator Simon Bolivar) |
Five Hundred Thousand Bolivares
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| Dated 2020, General Simon Bolivar (b.1783-1830) |
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| National Pantheon in Caracas and Mausoleo Del Libertador Simon Bolivar (Mausoleum of the Liberator Simon Bolivar) |
One Million Bolivares (Commemorative - 200th year of the Battle of Carabobo 1821-2021)
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| Dated 2020, General Simon Bolivar (b.1783-1830) |
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| Scene of the Battle of Carabobo |
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