Venezuela Issues Updated Bolivar Notes
CARACAS (Dispatches) - For the second time in a year, Venezuelan President Nicolas Maduro will issue new banknotes. The new currency, in denominations from 10,000 to 50,000 Bolivars, is being printed to keep pace with the country’s hyperinflation issues.
This comes just 8 months after the president slashed five zeros off the currency and prices in an effort to build stability.
The largest of the new notes will have a current value of around $8. Previously, the largest note to date was the 500 Bolivar bill. Inflation rates in Venezuela have settled at just over 1.1 million percent.
This comes just 8 months after the president slashed five zeros off the currency and prices in an effort to build stability.
The largest of the new notes will have a current value of around $8. Previously, the largest note to date was the 500 Bolivar bill. Inflation rates in Venezuela have settled at just over 1.1 million percent.