Bolivar

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Bolivar

Simon . 1783--1830, South American soldier and liberator. He drove the Spaniards from Venezuela, Colombia, Ecuador, and Peru and hoped to set up a republican confederation, but was prevented by separatist movements in Venezuela and Colombia (1829--30). Upper Peru became a separate state and was called Bolivia in his honour

Bolivar

 

a department in northern Colombia located on a plain and bounded on the east by the Magdalena River. Area, 26,400 sq km; population, 820,800 (1969). Its administrative center is Cartagena. Much of the land is devoted to livestock grazing, and there are crop-producing areas with tobacco, rice, sugarcane, cotton, and fruit-growing (bananas and other fruits) plantations. Bolivar has stockpiles of valuable timber. Petroleum is extracted and refined, and there are food-processing and textile industries.


Bolivar

 

a French term designating a wide-brimmed men’s hat that was fashionable in a number of countries in the 1820’s.

References in periodicals archive ?
The decision to eliminate the 100 bolivar note led to long lines at banks as Venezuelans attempted to get rid of the bills last week before the ban took effect, the (http://www.
He said the elimination of the 100 bolivar note was an effort to urge Venezuelans to use electronic transactions and curb organized crime.
Protesters across the country burned bolivar notes and railed against Maduro, a former bus driver who has seen his popularity plunge to just 20 percent, according to pollster Datanalisis.
The 100 bolivar note was taken out of circulation Friday, leaving Venezuelans unable to buy food or fill their gas tanks.
Venezuela reached deals with six airlines to pay dollar debt and may devalue the bolivar for ticket purchasers as it works to normalize flights and prevent airlines from leaving the country, reports Bloomberg.
Meanwhile, the government has declared that the 100 bolivar note is no longer legal tender and given people only 10 days to exchange the note for 100 bolivar coins.
With the bolivar falling and supplies uncertain, he might be forced to drop the brand name.
By most accounts, the bolivar is among the most overvalued currencies in the world.
The overvalued bolivar has been one of the main contributing factors to the economic problems Venezuela has experienced in the last two years.
The policy of keeping the bolivar artificially high could lead to an eventual currency crisis.