Venezuela's VES: Which Bolivar Should You Buy?
I've been getting questions from viewers asking about Venezuela's currency.
What is the VES? Which Venezuelan currency is currently in use? If you're interested in buying Venezuelan bolivars, which banknotes should you look for?
This matters because Venezuela has changed its currency system several times, and many old Venezuelan banknotes are being sold online.
So, let's clear this up.
What Is the VES?
VES is the international currency code for the Venezuelan bolívar.
In 2018, Venezuela introduced what was called the Bolívar Soberano, or Sovereign Bolívar. The international currency code VES was assigned to that currency.
Then, in October 2021, Venezuela went through another redenomination.
This time Venezuela removed six zeros from the currency.
That means:
1,000,000 old Bolívares became 1 new bolívar.
The new monetary expression became commonly known as the Bolívar Digital.
But here's where people get confused.
Venezuela did not introduce another ISO currency code.
The code remained VES.
So, when you look up Venezuela's currency today, you should still see VES.
Which Venezuelan Banknotes Are Current?
The current family includes denominations such as 5, 10, 20, 50 and 100 bolivars, with newer 200- and 500-bolívar notes added to the monetary system.
The 200- and 500-bolívar notes are particularly useful for identifying the newer current series. They feature images connected to Simón Bolívar and the Battle of Lake Maracaibo.
There are also 2025-dated examples documented for some of these newer notes.
So if someone tells you they are selling the "new Venezuelan currency," don't rely on that description alone.
Look at the actual denomination and the banknote series.
Here's the Big Warning
You may go online and see Venezuelan notes advertising denominations such as:
100,000 bolivars.
500,000 bolivars.
Or even:
1 MILLION bolivars.
That sounds impressive.
But those large numbers can be extremely misleading if you think you're purchasing one million of today's VES.
You're not.
Those are generally notes from an older currency series, before Venezuela removed six zeros in 2021.
For example, under the 2021 redenomination:
1,000,000 Sovereign Bolivars = 1 current bolivar.
So please don't assume that buying a physical banknote that says "1,000,000 bolivars" means you own one million units of today's VES.
You have to know which currency generation you're buying.
Can You Buy VES in the United States?
This is another area where viewers need to be careful.
You may find Venezuelan banknotes offered by online banknote and collectible-currency dealers.
But buying a physical Venezuelan banknote from a collectible dealer is not necessarily the same as buying VES through a bank or foreign-exchange account.
A dealer may be selling the note primarily as a collectible.
And the price you pay for that physical note may be dramatically higher than its actual foreign-exchange value.
In other words, don't look at the exchange rate and assume a dealer is going to sell you physical Venezuelan currency at anything close to that rate.
You're often paying a substantial premium for the physical banknote, its condition, availability, shipping, and the dealer's markup.
What Would I Look For?
If your intention is specifically to own the current Venezuelan currency, rather than old collectible bolivars, I would look for descriptions containing terms such as:
Venezuela VES
Bolívar Digital
Current Venezuelan Bolívar
and current-series denominations such as the 200- or 500-bolívar notes.
Then verify the note before purchasing it.
Don't simply buy something advertised as "Venezuelan bolivars."
And There's Another Major Risk
I want to make something very clear.
Buying Venezuelan bolivars is highly speculative.
Venezuela has already gone through multiple currency redenomination. Zeros have been removed repeatedly because of severe inflation and currency depreciation.
As recently as August 2026, the bolivar has continued to lose substantial purchasing power. The official exchange rate was around 767 VES to one U.S. dollar on August 13, and market-rate trackers were showing roughly 790 VES per dollar near the end of August.
That is a dramatic difference from only a few years ago.
So I would not purchase Venezuelan currency based on social-media claims that Venezuela is about to suddenly "revalue" the bolivar and make holders wealthy.
There is no guarantee of that.
What About Venezuela Switching to the U.S. Dollar?
There's another rumor circulating that Venezuela is about to eliminate the bolívar and officially replace it with the U.S. dollar.
I found no official announcement confirming that.
In fact, recent fact-checking has specifically challenged claims that Venezuela will eliminate the bolivar in October 2026.
Venezuela already uses U.S. dollars extensively alongside bolivars in everyday commerce, but that is very different from officially eliminating the VES.
For now, the bolivar remains Venezuela's official currency.
The Bottom Line
If you're interested in Venezuelan currency, remember these four things.
Number one: VES is the current international currency code for the Venezuelan bolivar.
Number two: The current monetary expression is commonly called the Bolívar Digital.
Number three: Do not confuse old 100,000-, 500,000-, or 1-million-bolívar banknotes with the same amount of today's VES.
And number four: if you're buying physical notes, verify exactly which series you're purchasing and understand that you're probably paying a substantial dealer premium over the currency's face value.
Venezuela may be entering an extremely interesting economic period, particularly because of changes involving its oil industry, U.S. sanctions, and its relationship with the United States.
But interesting does not mean guaranteed profit.
So, if you're watching the Venezuelan bolivar, watch the VES, understand exactly which banknotes you're buying, and don't confuse old currency with the currency circulating today.
Disclaimer - (I Must Add the Disclaimer Because I Have Not Yet Been to Venezuela to Research the Currency)
The information provided in this article is for educational and informational purposes only and should not be considered financial, investment, legal, tax, or currency-purchasing advice.
Edu Matrix does not recommend, endorse, or guarantee the purchase of the Venezuelan bolivar (VES) or any other foreign currency as an investment. Foreign currencies—particularly currencies from countries experiencing high inflation, economic instability, sanctions, currency controls, or redenomination—can involve significant risk and may lose some or all of their value.
Sources & Documentation
The information in this article was compiled from government, financial, and established news sources. Because Venezuela's monetary policies, exchange rates, sanctions, and currency regulations can change, readers are encouraged to review the latest information directly from these sources.
1. U.S. Treasury — OFAC Venezuela-Related Sanctions
The U.S. Treasury's Office of Foreign Assets Control maintains the official page covering current U.S. sanctions, general licenses, regulations, and guidance concerning Venezuela.
https://ofac.treasury.gov/sanctions-programs-and-country-information/venezuela-related-sanctions
2. Venezuelan Government — VES Currency Code
Venezuela's state radio network reported the International Organization for Standardization's assignment of the VES alphabetic code and numeric code 928 to the Venezuelan bolívar.
https://rnv.gob.ve/ves-will-be-the-iso-code-of-the-sovereign-bolivar/
3. 2021 Redenomination — Six Zeros Removed
In 2021, the Banco Central de Venezuela announced a new monetary expression under which amounts denominated in the national currency were divided by 1,000,000. In simple terms, 1,000,000 of the previous bolívars became 1 bolívar under the new monetary expression.
Bloomberg Línea documentation:
Additional documentation from El País:
4. Introduction of the Bolívar Digital
The new monetary expression took effect on October 1, 2021. The change eliminated six zeros from the previous monetary scale.
https://www.bloomberglinea.com/2021/10/01/venezuela-emite-nuevo-bolivar-con-seis-ceros-menos/
5. Current 200- and 500-Bolívar Banknotes
In August 2024, the Banco Central de Venezuela announced the addition of 200- and 500-bolívar banknotes to the existing monetary family. These joined the 5-, 10-, 20-, 50- and 100-bolívar notes.
Documentation:
https://www.analitica.com/economia/bcv-presenta-nuevos-billetes-de-200-y-500-bolivares/
Additional documentation:
6. VES Currency-Code Reference
Thomson Reuters maintains a list of international currency codes and identifies Venezuela's currency code as VES.
Important Note for Potential Currency Buyers
A banknote displaying 100,000, 500,000 or 1,000,000 bolívars should not automatically be interpreted as representing that amount in today's VES monetary scale.
Venezuela has undergone several redenominations. Most importantly for buyers of physical currency, the 2021 monetary conversion removed six zeros. Under that conversion:
1,000,000 previous bolívars = 1 bolívar under the new monetary expression.
Therefore, anyone purchasing Venezuelan banknotes online should verify the year, series, denomination and monetary family rather than relying only on a dealer's description.
Old Venezuelan banknotes can have legitimate value as collectibles, but that is different from owning the equivalent face amount of Venezuela's current currency.
U.S. Sanctions Warning
U.S. residents should also understand that Venezuela remains subject to U.S. sanctions administered by the Treasury Department's Office of Foreign Assets Control (OFAC). The sanctions framework has changed significantly in 2026, with several new and amended general licenses.
Before conducting a financial transaction involving Venezuela, a Venezuelan government entity, financial institution, or other potentially sanctioned party, check the current OFAC rules:
https://ofac.treasury.gov/sanctions-programs-and-country-information/venezuela-related-sanctions
Date Verified: August 31, 2026
Because Venezuela's currency, exchange rate, banking regulations and U.S. sanctions can change, this information should be rechecked before making any financial decision.
