About the AUD/VES rate
The AUD/VES rate is how many VES one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/VES rate history.
The other directions of this rate: the reverse rate, VES → AUD, is on the receiving Venezuelan bolívar view, and sending Australian dollars to Venezuela is covered on the AUD → VES transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
How Venezuela re-expresses its currency
Venezuela has re-expressed the bolivar three times since 2008, and the instruments are close to identical. Decreto N.º 5.229, published in Gaceta Oficial N.º 38.638 of 6 March 2007, re-expressed the unit from 1 January 2008 at one new bolivar to a thousand current ones. Decreto N.º 3.548, published in Gaceta Oficial N.º 41.446 of 25 July 2018, took effect on 20 August that year and divided by a hundred thousand. Decreto N.º 4.553, in Gaceta Oficial N.º 42.185 of 6 August 2021, took effect on 1 October and divided by a million.
The 2007 decree already contains the machinery all three use. It names its governing principles, requires prices to be shown in both units ahead of the switch, leaves the old notes circulating with their discharging power intact until the central bank says otherwise, and gives banks a deadline to convert every client balance.
One of those principles is the one worth knowing about as a customer. Gratuidad: the conversion and every operation needed to apply it are free to consumers and users, with no costs, commissions, fees or analogous charges, and any clause or agreement to the contrary is null by operation of law. The 2007 decree lists four principles; the 2021 decree lists three, having dropped igualdad de valor, the statement that the exercise alters the value of nothing.
Refusing to go along with it is penalised in both directions. The 2007 decree fines refusal to perform the conversion at between ten and ten thousand tributary units, and separately fines refusal to accept the new monetary species at quadruple the amount whose acceptance was refused.
The 2021 decree also made the changeover invisible to paperwork. Expressions in national currency in any instrument or legal business concluded before the changeover and still in effect afterwards are automatically understood as expressed in the new scale, requiring no new instrument and no procedure before the registry and notaries service.
Sources: Decreto N.o 5.229, Decreto con Rango, Valor y Fuerza de Ley de Reconversion Monetaria, Gaceta Oficial N.o 38.638 of 6 March 2007 (Asamblea Nacional de la Republica Bolivariana de Venezuela) · Decreto N.o 4.553, Gaceta Oficial N.o 42.185 of 6 August 2021, facsimile of the gazette pages · Ministerio del Poder Popular de Economia y Finanzas, Venezuela - Oficializan para el 20 de agosto entrada en vigencia de la reconversion monetaria