VEF to AWG

VEF - Venezuelan Bolívar (Bs.)
AWG - Aruban Florin (Afl.)
1 VEF1 AWG

Currency conversion rates from VEF to AWG

VEFAWG
1 VEF1 AWG
5 VEF5 AWG
10 VEF10 AWG
20 VEF20 AWG
50 VEF50 AWG
100 VEF100 AWG
250 VEF250 AWG
500 VEF500 AWG
1000 VEF1000 AWG
2000 VEF2000 AWG
5000 VEF5000 AWG
10000 VEF10000 AWG
AWGVEF
1 AWG1 VEF
5 AWG5 VEF
10 AWG10 VEF
20 AWG20 VEF
50 AWG50 VEF
100 AWG100 VEF
250 AWG250 VEF
500 AWG500 VEF
1000 AWG1000 VEF
2000 AWG2000 VEF
5000 AWG5000 VEF
10000 AWG10000 VEF

AWG - Aruban Florin (AWG)

Aruban Florin

The Aruban Florin is pegged to the US Dollar at 1.79 Florin = 1 USD. The Central Bank of Aruba issues the currerncy. Aruba is a 33-km long island in the southern Caribbean Sea, 27 km north of the coast of Venezuela and approximately 130 km east of the peninsula of Guajira in Colombia. Together with Bonaire and Curacao, it is part of a group known as the ABC islands of the Leeward Antilles, the southern island chain of the Lesser Antilles.

The Aruban Florin is the currency in Aruba (AW, ABW). The Aruban Florin is also known as the Aruba Guilder, and the Aruban Gulden. The symbol for AWG can be written Afl. The Aruban Florin is divided into 100 cents. The exchange rate for the Aruban Florin was last updated on May 24, 2019 from Yahoo Finance. The AWG conversion factor has 3 significant digits.

Economy

  • Aruba enjoys one of the highest living standards in the Caribbean region and has a low unemployment rate.
  • Tourism and related activities account for about 75% of Aruba’s GNP. Most tourists are from Venezuela or the United States.
  • Before the “Status Aparte”, when Aruba became a separate, completely autonomous country/state in the kingdom of the Netherlands, oil processing was the dominant industry in spite of the expanding tourism sector.
  • Today the influence of the oil processing business is minimal. The agricultural and manufacturing sectors are also minimal.

History

  • In 1986, the Aruban Florin replaced the Netherlands Antillean Guilder, inheriting its peg to the United States Dollar. Coins were introduced in denominations of 5, 10, 25 and 50 cents, as well as 1 and 2½ guilders. Later, the 5-florin note was replaced by a square coin and the 2½ guilder coin was discontinued.
  • In 2005 the 5-florin note was replaced by a gold coin. All coins are struck in nickel-steel except the 5-guilder, which is a combination of copper and other metals. The 50-cent coin is the only square coin and is also known as the Yotin.

More information about AWG - Aruban Florin (AWG)


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.)