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 day after the reconversion, you could buy the same 3 chapatis for 10 sovereign bolivars. So, it seemed a logical step forward and an improvement.
The elimination of the 100 bolivar ($10.01) note, which produced a cash crunch, sparked two days of protests that left one dead and scores of businesses ransacked.
The Panama City-based airline, which has routes connecting the U.S., Caribbean and Latin America, said it's owed $488 million by the Venezuela government, valued at the official bolivar rate of 6.3 bolivars per dollar.
Transport Minister Hebert Garcia Plaza, for his part, said working groups have been set up with the airlines to agree on higher ticket prices, which would be reimbursed at a rate of 50 bolivars to the dollar after July 1.
The devaluation brought down the official value of the bolivar by 46.5 percent against the dollar.
While choking off imports of everything from newsprint to food, medicine and spare parts, the move has strengthened foreign exchange reserves--a key government goal to protect the bolivar. At press time, reserves were $16.6 billion.
Yet it is still considerably more stable than the Venezuelan bolivar, which lost two-thirds of its value against the dollar on the black market in November, its biggest ever monthly decline, according to data from DolarToday, which tracks the black-market rate.
It is expected that the bank could expand the purchase of dollars at a rate of 5.3 bolivars, to lure foreign companies to invest more in the nation.
He already predicts an economic contraction of between 11% and 15% of gross domestic product (GDP) and a fiscal deficit of 4% of GDP--but only if the government devalues the bolivar to average 2,500 bolivars to the dollar in 2003, a 56% decline from the current official level.
The primary responsibility of the ONT is to manage the public finances of the Government of Venezuela using bolivars, the Venezuelan currency.
He reduced the stronger official exchange rate from 6.3 bolivars to the dollar to 10 bolivars per dollar; in the weaker tier, a dollar would be worth much as 200 bolivars.
The bank has decided an exchange rate of about 5.3 bolivars per US dollar in a new currency market that debuted a day before.