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monetary unit of Venezuela. Each bolivar fuerte is divided into 100 centimos (cents). The bolivar fuerte (the equivalent of 1,000 bolivares) was introduced in 2008 in an attempt to curb high inflation and simplify financial transactions. It replaced the bolivar, which had been adopted as Venezuela's monetary unit in 1879. Prior to 1879, independent Venezuela used three separate currencies: the escudo, the peso, and the venezolano.