She was portrayed by Ivana Milicevic, who also played Kathryn Kidman in The Howling: Reborn.
She is the girlfriend, mistress and criminal partner of Le Chiffre and is seen in the Bahamas where he finds out 007 broke into an embassy in Spain. Valenka is coming out of a swim and has a sexy shower.
Valenka travels to Montenegro with Le Chiffre as her boyfriend had set up a high stakes poker game and was also playing in it. On the first night of the Poker tournament, Valenka is standing guard in the Presidential Suite of the hotel. She later calls Le Chiffre back to the room during a break and when he meets her at the balcony and asks what's so important, they are ambushed by Obanno and his liaison who threaten to cut off Valenka's arm if Le Chiffre doesn't give him their money. Bond stops Obanno and kills him and his bodyguard. Valenka is safe but she stays with Le Chiffre despite Obanno's comments that she'd be better off with another boyfriend.
Not wanting to be alone again after what occurred the previous night, Valenka joins Le Chiffre at the Casino on the second night of the game, when Bond becomes a threat to Le Chiffre, Valenka poisons Bond's martini with digitalis. Bond is saved by Vesper Lynd however and returns to the poker table for the last round of the game, much to Valenka's horror.
She smiles and encourages Le Chiffre but then he loses. She kidnaps Vesper Lynd, and with Le Chiffre takes Bond captive. Valenka goes off to torture Vesper but Mr. White breaks in and shoots her to her death. Le Chiffre would later suffer the same fate after his pleas to Mr. White fall deaf.
Bond eventually learned that Quantum was nothing more than a front run by Ernst Stavro Blofeld of SPECTRE, and that Valenka, along with Vesper, Mr. White, Obanno and Le Chiffre, were all pawns as part of Blofeld's true plot to wreak psychological pain on Bond.
- Valenka is never mentioned in the book, however, Le Chiffre does have mistresses.
- She is the seventh major 007 villainess.
- Valenka had only one line of dialogue in the original script. It was "I can't find the pliers" when she was torturing Vesper.
- Valenka is comparable to Elektra King, another major 007 villainess, because she is the villain's lover.
- Valenka is one of the few villains to almost kill 007.
- Ironically, 007 saved Valenka the night before, so this makes her assassination attempt all the more evil and ungrateful.
- Valenka completes the 007 villainess trait of being an eccentric millionaire with psychopathic lustful tendencies.
- Valenka is the cause of Le Chiffre losing. Because in all his other games, the reason Valenka looks so beautiful is so the other male players get lustful for her and lose their concentration on the game making it easy for Le Chiffre to swindle them; and she and Le Chiffre gloat and make out over this trick, and in the end, it is Le Chiffre who falls for the trick completely, Valenka smiles at him encouragingly with her naked shoulders glimmering and looks so beautiful that Le Chiffre is distracted in his overconfidence and allows Bond an easy win.