Venezuela's currency is the Bolívar. The official currency code for the Bolívar is VES. The Bolívar has been the official currency of Venezuela since 1879, when it replaced the Venezolano. The Bolívar is subdivided into 100 céntimos.

As of 2021, Venezuela has been facing a severe economic crisis, with hyperinflation causing the Bolívar to lose its value rapidly. The government has implemented various measures to try to stabilize the currency, such as introducing new banknotes and removing zeros from the currency. Despite these efforts, the Bolívar continues to depreciate, leading to a reliance on foreign currencies such as the US dollar for transactions.

Due to the economic instability in Venezuela, many Venezuelans have turned to cryptocurrencies such as Bitcoin as an alternative form of currency. Some businesses in Venezuela now accept Bitcoin as a form of payment, offering a more stable and reliable currency option in the face of hyperinflation.

If you are planning to visit Venezuela or do business in the country, it is important to be aware of the current situation regarding the Bolívar and the use of other currencies. It is recommended to exchange your currency for US dollars or Euros before traveling to Venezuela, as these are widely accepted and more stable than the Bolívar.

For more information on the currency situation in Venezuela, you can visit the official website of the Central Bank of Venezuela. They provide up-to-date information on exchange rates, monetary policies, and economic indicators related to the Bolívar.

In conclusion, the currency of Venezuela is the Bolívar, but due to economic instability, the use of other currencies such as the US dollar and cryptocurrencies has become more common. It is important to stay informed about the currency situation in Venezuela if you plan to visit or do business in the country.

For further reading on the Bolívar and Venezuela's economic crisis, you can check out this article from the BBC: Venezuela's currency crisis: Is the Bolívar worth the paper it's printed on?

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