The bolívar soberano (sign: Bs.S. or Bs.; plural: bolívares soberanos; ISO 4217 code: VES) is the main currency of Venezuela since 20 August 2018. Since that date, it has been due to replace the bolívar fuerte (strong bolívar, sign: Bs.F., ISO 4217 code: VEF) after a transition period. The primary reason for replacement, at a rate of 1 Bs.S. to 100,000 Bs.F, was hyperinflation. On 1 January 2008, the bolívar fuerte had itself replaced, because of inflation, the original bolívar introduced in 1879 (sign: Bs.;; ISO 4217 code: VEB). It did so at a rate of 1 Bs.F. to 1000 Bs.
Venezuela's consumer prices rose 833,997 percent in the twelve months through October, according to a report by the opposition-controlled Congress published on Wednesday, the latest sign that policy changes in August failed to halt rampant hyperinflation.