HomeCurrency Updates

Venezuela to remove five zeroes from ailing currency

Monetary re-conversion starts on August 20 with the suppression of 5 zeros to the bolivar

The president of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros, announced on Wednesday that the monetary reconversion will come into effect on August 20 with the suppression of five (5) zeros to the current monetary cone.

Likewise, the Venezuelan Head of State announced that the Sovereign Bolivar will have a basis for exchange and exchange based on the Petro cryptocurrency, which will allow the creation of a new monetary system aimed at “stabilizing and changing the monetary and financial life of the country in a radical”.

“We will solve the plan and we will stabilize our economy with the launch of the new currency cone. The mafias are over, with the anchor of our Sovereign Bolivar with the Petro, we are going to restore the Venezuelan purchasing power, “he said.

The dignitary made the announcement from the Miraflores Palace, in a meeting with the Economic Team of the National Executive, in which the president of the Central Bank of Venezuela (BCV), Calixto Ortega Sánchez, participated in the context of the start of the Economic Recovery Program that drives the Bolivarian Government.

Source: bcv.org.ve

Like Tweet Pin it Share Share Email

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *