Web Trader MT5
VEF was the currency code for the Venezuelan bolivar fuerte, or strong bolivar. It was introduced in 2008 after Venezuela removed three zeros from its previous currency. This meant that 1,000 old bolivars became one bolivar fuerte.
The change made prices shorter and easier to write, but it did not solve the country’s inflation problem. As prices continued to rise rapidly, the currency lost much of its buying power.
In 2018, Venezuela replaced VEF with a new version of the bolivar carrying the code VES. One VES was equal to 100,000 VEF. VEF is therefore a historical currency code and may still appear in older records or charts.
