The main currency of Venezuela since 20 August 2018 has been the bolívar soberano (sovereign bolivar) (sign: Bs.S. or Bs.; plural: bolívares soberanos; ISO 4217 code: VES).It will replace the bolívar fuerte (strong bolívar, sign: Bs.F., ISO 4217 code: VEF) after a transition period. The primary reason for replacement, at a rate of 1 Bs.S. to 100,000 Bs.F, was hyperinflation.