[1] Both Ve and the Cyrillic letter Be (Б б) were derived from the Greek letter Beta (Β β), which already represented /v/ in Greek by the time the Cyrillic alphabet was created.

In standard Ukrainian pronunciation (based on the Poltava dialect), Ve represents a sound like the English W ([w]) when in the word final position.

In Eastern Ukraine, the letter Ve may represent a voiceless [f], but this is considered a Russianism, as word-final devoicing does not occur in standard Ukrainian.

However, in Eastern Ukraine one is likely to hear the Russified [skazaf] (with final devoicing).

E.g., the Belarusian noun "language" is мова (mova), but the adjectival form is моўны (mowny), and the genitive plural of the noun (formed by removing the final ⟨а⟩) is моў (mow).