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Bolivar is the monetary unit of
Explanation
The Bolivar is the official monetary unit of Venezuela [1]. Named after the South American independence leader Simón BolÃvar, the currency has undergone several re-denominations due to hyperinflation, including the BolÃvar Fuerte (VEF), BolÃvar Soberano (VES), and the Digital BolÃvar (VED) [t2][t9]. While it was historically a stable currency, it is now often cited as an example of a 'soft currency' due to its extreme volatility and depreciation [c1]. In contrast, the currency of Bolivia is the Boliviano (BOB) [t1][t7], Brazil uses the Real (BRL) [t5][t7], and Belarus uses the Belarusian Ruble (BYN/BYR) [t5][t7]. The Venezuelan Bolivar remains the primary legal tender authorized by the Venezuelan government for domestic exchange [c2][t2].
Sources
- [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 17: India’s Foreign Exchange and Foreign Trade > HARD CURRENCY VERSUS SOFT CURRENCY > p. 501
SIMILAR QUESTIONS
Match List-I (Country) with List-II (Capital City) and select the correct answer using the codes given below the lists:
| List-I (Country) | List-II (City/Capital) |
|---|---|
| A. Argentina | 1. Buenos Aires |
| B. Brazil | 2. Caracas |
| C. Peru | 3. Lima |
| D. Venezuela | 4. Sao Paulo |
Codes:
- (a) A-1, B-3, C-4, D-2
- (b) A-1, B-4, C-3, D-2
- (c) A-2, B-3, C-4, D-1
- (d) A-2, B-4, C-3, D-1
Other than Venezuela, which one among the following from South America is a member of OPEC?
Consider the following countries : I. Bolivia II. Brazil III. Colombia IV. Ecuador V. Paraguay VI. Venezuela Andes mountains pass through how many of the above countries?