If you’re traveling to Venezuela soon or want to send money to Venezuela, this guide will help. We’ll share everything you need to know about the Venezuelan currency known as the bolívar.
You’ll find tips on checking current exchange rates1, a look at the bolívar’s history, and insights into the economic factors that affect its value. We’ll also cover cultural practices, like tipping, and share the best ways to exchange US dollars for bolívares.
What is the currency in Venezuela?
The currency of Venezuela is the bolívar. It’s represented by the symbol “Bs.” The currency code is “VES.” In recent years, Venezuela has gone through several currency redenominations due to hyperinflation, which is why you might also see references to other codes like “VEF” or “VEB.” You may also hear the bolívar referred to by one of its nicknames, the bolo or the luca.
At this time, all forms of Venezuelan currency are devalued due to hyperinflation. Because of this, many people use US dollars or other major currencies when traveling to Venezuela.
History of the bolívar
Venezuela’s currency, the bolívar, is named after Simón Bolívar, a military leader who led independence movements in Latin America.
Venezuela introduced the bolívar in 1879. In 2008, Venezuela replaced it with the bolívar fuerte (translated as “hard bolívar”) due to significant inflation. Hyperinflation continued, and in 2018, the country redenominated the currency again.
In 2021, Venezuela issued new versions of the bolivar currency with six fewer zeros. The purpose was to streamline currency exchanges. Despite these efforts, the currency’s value has remained unstable. Many Venezuelans now rely on digital payments or use US dollars for everyday purchases.
The most recent change came in 2024, when Venezuela introduced the new 200 and 500 Bolívar digital banknotes.
How much is the Venezuelan bolívar worth?
Venezuela’s currency fluctuates in value. Its worth depends on where you exchange money and how it’s obtained. For example, digital transfers might have one type of fee, and cash pickups might have a different rate or handling fee.
As of mid-2025, 1 USD trades for roughly 90 to 95 VES, but that number can move quickly. For example, 1 USD traded for just over 50 VES at the start of 2025. Venezuela’s economy continues to face challenges that make rates tough to predict.
Currency exchange rates change for various reasons. If you plan to exchange money, Western Union lets you check the most up-to-date exchange rates.
6 tips for exchanging US dollars for Venezuelan bolívar
If you’re planning to exchange USD to VES, here are six tips to help you get the most value when you travel to Venezuela. They include when to notify your bank about your trip, how to compare exchange rates and fees, and why you might want to get bolívares in the US before you leave.
Remember that the value of Venezuelan currency can change quickly. Political shifts, economic changes, and tariffs all play a role. The exchange rate you see today might be very different tomorrow.
1. Research and compare exchange rates
Before exchanging US dollars for bolívares, take a few minutes to compare rates. Research exchange rates offered at your bank, on online platforms, and even at airport kiosks. You’ll often see different rates at each.
Doing this homework ahead of time can help you get a better deal. And remember that the US dollar is widely accepted in Venezuela, so you might not need to exchange money at all in some cases.
2. Notify your bank ahead of traveling
Anytime you travel abroad, let your bank or credit card company know. This helps prevent your cards from getting blocked for suspicious activity.
It only takes a few minutes to call or log into your online banking app. Let them know where you’ll be and how long you’re staying. That way, you’ll be able to use your cards more easily for local purchases (whether paying in bolívares or USD).
3. Avoid exchanging money at airports, hotels, and tourist areas
It may seem convenient to exchange dollars for Venezuelan currency at the airport, your hotel, or other tourist areas. However, those kiosks often charge higher fees and offer less favorable rates than reputable banks or currency exchange services.
In touristy areas, some exchange booths may even be unlicensed or could try to scam you with counterfeit bills. For better rates (and peace of mind), stick with reliable exchange services you can trust.
4. Consider commissions and fees
When evaluating currency exchange services, consider commissions and fees. Some services might advertise attractive exchange rates but hide extra costs in the fine print.
So, before exchanging dollars for bolívares, compare more than just exchange rates. The most reputable companies will be transparent about the full cost of exchanging money.
5. Understand that exchange rates widely vary depending on the day
The value of the currency of Venezuela changes every day because of the country’s turbulent economy. It’s a good idea to start tracking live exchange rates online or with the Western Union mobile app a few weeks before you travel. This helps you catch a time when the rate is most favorable and confidently plan your exchange.
6. Get Venezuelan bolívar in the US
If you plan to use Venezuelan currency, you might want to get some bolívares in the US before traveling. Because of Venezuela’s volatile economy, you could end up with poor rates and high fees if you wait to exchange money locally.
Additionally, the US Department of State warns that many ATMs in Venezuela are prone to malfunction and often do not accept American debit cards. The State Department also warns that criminals in Venezuela are known to target customers using ATMs. To stay safe and avoid issues, it’s often best to exchange your money before you go.
Using money in Venezuela
While residents and business owners still use and accept Venezuelan currency, the value of the bolívar has fluctuated significantly in recent years. As we mentioned, the Venezuelan government created new bills in 2021 to combat inflation, opening the door to wider use of the US dollar.
Because of that, you can use USD in Venezuela today, whether you’re shopping at local stores or tipping at a restaurant. In fact, many businesses prefer it.
Can you use USD in Venezuela?
Yes, you can use USD in Venezuela. According to Caracas Chronicles, the value of Venezuela’s currency has declined significantly due to economic factors, political challenges, and, most recently in 2025, the impact of US tariffs on oil.
For these reasons, using the US dollar as currency is more stable than the Venezuelan bolívar. If you travel there, bring small bills like 1 USD. This will make purchasing items much easier, as local shops and vendors will likely be unable to make change for larger bills.
Tipping etiquette in Venezuela
Tipping is customary in Venezuela. According to information on Venezuelan cultural practices from the Central Intelligence Agency World Factbook, taxi drivers appreciate it when passengers round up the bill. However, you don’t need to tip further when taking a taxi.
When arriving at your hotel, plan to tip bellhops for bringing up your luggage (approximately 1 USD per bag). Finally, most restaurants include a 10% service charge, but visitors should add a 5% to 10% tip on top of this charge for quality service.
Send money to Venezuela with Western Union
It’s easy to send bolívares to someone in Venezuela. Simply use a trusted currency exchange provider like Western Union or send money using a direct bank transfer or money order. Compare exchange rates, fees, and the provider’s reputation to choose the best option for you.
Western Union has more than 100 agent locations throughout Venezuela to help with your transfer. These are great for cash pickup if you want your recipient to collect their cash in person.
Explore more currency guides
Are you interested in traveling to other Latin American countries? Check out more currency guides below.
- Mexico currency guide: the Mexican peso (MXN)
- Columbia currency guide: the Colombian peso (COP)
- Dominican Republic currency guide: the Dominican Peso (DOP)
- Brazil currency guide: the Brazilian real (BRL)
- Peru currency guide: the Peruvian nuevo sol (PEN)
- Argentina currency guide: the Argentinian peso (ARS)
- Costa Rica currency guide: the Costa Rican colón (CRC)
1. Western Union makes money from currency exchange. Fees and rates subject to change without notice.
FAQs
While the bolívar is the official Venezuelan currency, many businesses accept the US dollar. You can also easily exchange other global currencies like euros and pounds.
Exchange rates fluctuate daily, but as of mid-2025, 1 USD trades for approximately 90 to 95 VES. Use Western Union to check the most up-to-date exchange rates.
