CDF to VEF

CDF - Congolese Franc (FC)
VEF - Venezuelan Bolívar (Bs.)
1 CDF1 VEF

Currency conversion rates from CDF to VEF

CDFVEF
1 CDF1 VEF
5 CDF5 VEF
10 CDF10 VEF
20 CDF20 VEF
50 CDF50 VEF
100 CDF100 VEF
250 CDF250 VEF
500 CDF500 VEF
1000 CDF1000 VEF
2000 CDF2000 VEF
5000 CDF5000 VEF
10000 CDF10000 VEF
VEFCDF
1 VEF1 CDF
5 VEF5 CDF
10 VEF10 CDF
20 VEF20 CDF
50 VEF50 CDF
100 VEF100 CDF
250 VEF250 CDF
500 VEF500 CDF
1000 VEF1000 CDF
2000 VEF2000 CDF
5000 VEF5000 CDF
10000 VEF10000 CDF

CDF - Congolese Franc (CDF)

Congolese Franc

The official currency of the Democratic Republic of Congo is the Congolese Franc (CDF). The symbol for the Franc is FC. The Franc is subdivided into 100 centimes. There were two editions of the Franc; the second edition is the new Congolese Franc.

The Franc Congolais is the currency in Congo (CD, COD). The Franc Congolais is divided into 100 centimes. The exchange rate for the Franc Congolais was last updated on May 24, 2019 from Yahoo Finance. The CDF conversion factor has 5 significant digits.

Economy

  • The Democratic Republic of Congo has a vast amount of mineral and other natural resources. The estimated value of the untapped raw material is +/- 24 trillion USD.
  • Agriculture accounts for 57% of the GDP. Products of the agriculture industry are rubber, tea, cotton, sugar, palm oil, and coffee.
  • The Congo relies on the mining industry.
  • The main industries are consumer products, mining, cement, and commercial ship repair.
  • Export products are crude oil, wood products, coffee, copper, gold, diamonds, and cobalt.
  • Import products are transportation equipment, mining and other machinery, and food.
  • There is a lot of economy activity in the informal sectors that is not included in the GDP.
  • The first and second wars that took place in the 1960s negatively impacted the economy.
  • The government is establishing economic zones to help get the industrial sector started.

History

  • The first Franc was introduced in 1887. It had the same value as the Belgian Franc.
  • In 1916, the Congolese Franc also circulated in the countries of Burundi and Rwanda; however, they later issued their own Franc.
  • In 1967, Congo declared independence and the Franc was replaced with the Zaire at 1,000 Francs = 1 Zaire.
  • In 1997, the Franc was re-introduced and the Zaire was eliminated. The exchange rate was 100,000 new Zaires = 1 Franc.
  • In 2010, the Central Bank printed commemorative notes to celebrate the 50th anniversary of the country’s independence from Belgium.

More information about CDF - Congolese Franc (CDF)


VEF - Venezuelan Bolívar (Bs.)

Venezuelan Bolívar

The Bolívar Fuerte has been the official currency of Venezuela since January 1, 2008. It is subdivided into 100 céntimos and replaced the Bolivar at the rate of Bs.F. 1 = Bs. 1,000 due to inflation.

The Venezuelan Bolivar Fuerte is the currency in Venezuela (VE, VEN). The Venezuelan Bolivar Fuerte is also known as Bolivars, and Bolívar. The symbol for VEF can be written Bs. F. The Venezuelan Bolivar Fuerte is divided into 100 centimos. The exchange rate for the Venezuelan Bolivar Fuerte was last updated on August 23, 2018 from Bloomberg. The VEF conversion factor has 4 significant digits.

Economy

  • The economy of Venezuela is largely based on the petroleum sector, which accounts for roughly a third of the GDP, around 80% of total exports, and more than half of government operating revenues.
  • Venezuela is the fifth-largest member of OPEC by oil production.
  • From the 1950s to the early 1980s the Venezuelan economy experienced a steady growth that attracted many immigrants.
  • During the collapse of oil prices in the 1980s the economy contracted. With high oil prices and rising government expenditures, Venezuela's economy grew by 9% in 2007, but was expected to shrink by 2.9% in 2009 and further in 2010.
  • Venezuela has one of the highest inflation rates in the world, averaging 29.1% in 2010, according to the CIA world fact book.

History

  • The Bolivar was adopted by the monetary law of 1879, replacing the short-lived venezolano at a rate of 5 Bolivares = 1 Venezolano.
  • Initially, the Bolívar was on the silver standard, equal to 4.5 g fine silver, following the principles of the Latin monetary union. The monetary law of 1887 made the gold Bolívar unlimited legal tender, and the gold standard came into full operation in 1910.
  • Venezuela went off the gold standard in 1930, and in the 1934 the Bolívar exchange rate was fixed in terms of the US Dollar at a rate of 3.914 Bolivares = 1 USD.
  • In 1937, it was revalued to 3.18 Bolivares = 1 USD, a rate which lasted until 1941.
  • Until February 18, 1983, now called Black Friday by many Venezuelans, the Bolívar had been the most stable and internationally accepted currency.

More information about VEF - Venezuelan Bolívar (Bs.)