BOLIVAR, the monetary unit of Venezuela. It is equiva lent at par to a franc, so that one bolivar equals 19.295 cents, and 2 5.2 2 bolivars equal one pound. It is divided into 1 oo centimes, while commercial accounts are kept as a rule in "pesos sencillos," an imaginary coin equivalent to four bolivars. A former unit called the Venezolano is equal to five bolivars.
The bolivar, from the geographical situation of Venezuela, has its main link with the dollar, but it is also quoted regularly in London. Immediately of ter the World War, it stood below par, falling to 16 cents in early 1921. Since 1923, it has been back at par with the dollar. Notes are issued by the Bank of Venezuela and by certain other banks, but the former possesses the bulk of the issue and practically all the country's stock of gold and gold assets. This last rose from 11.5 million bolivars in 1913 to 69.2 millions in 1926, but it is impossible to say how much was actual gold, and how much was "gold exchange," etc. See also CURRENCY.