With the approval of the new Constitution in December 1999 by popular referendum, is renamed the country the Bolivarian Republic of Venezuela.
As of February 1, 2006 the BCV revoked legal tender (demonetized) of banknotes in denominations of Bs 5, 10, 20, 50 and 100.
One consequence of this reform is the variation of the Coat of Arms and more highlighted what was the change of the horse, which was as stated in Article 8 of Chapter III:
"The third quarter is blue, will fill the bottom of the coat of arms on it and include a untamed white horse, galloping to the left of the observer and looking forward, emblem of independence and freedom, adopting for this purpose
Also the national flag was varied by adding a new star, this proposal was based on the decree pronounced in Angostura (now Ciudad Bolivar) by Simón Bolívar, Supreme Commander, the November 20, 1817 which, in Article One states: "At
By Decree with Force of Law on Currency issued by the President of the Bolivarian Republic of Venezuela Hugo Chávez, published in the Official Gazette No. 38638 dated March 6, 2007, will change the country's monetary scale
In the new monetary scale, the currency will continue under the name of "bolivar" but to distinguish it from the current drive, for a transitional period to the word "bolivar" he added the adjective "strong" to be "strong bolivar"
Once the current banknotes and coins ceased to circulate and the public become familiar with the new unit, the authorities issued notices relating to the re-use only the word "bolivar".
