Venezuelan New Dollar Capacitor

What is Venezuela's new currency?

[File: Ariana Cubillos/The Associated Press] Venezuela is set to debut a new currency that will feature six fewer zeros, a response to years of some world’s worst inflation. The highest denomination of the Venezuelan bolivar had previously been a one-million bolivar note, currently worth a little less than $0.25.

How will Venezuela's currency change affect the value of the Bolivar?

When Venezuela’s Central Bank announced the currency change last month, officials said payment systems will be modernized to expand digital use of the bolivar. They also underscored that the elimination of six zeros doesn’t otherwise affect the value of the currency.

How much is a Bolivar bill in Venezuela?

A man counts bolivar bills that amount to $1 at a bus stop in Caracas, Venezuela. [File: Ariana Cubillos/The Associated Press] Venezuela is set to debut a new currency that will feature six fewer zeros, a response to years of some world’s worst inflation.

Are Venezuela's socialist leaders lopping zeros off the currency?

This is the third time Venezuela’s socialist leaders have lopped zeros off the currency. The bolivar lost three zeros in 2008 under the late President Hugo Chávez, while his successor, current President Nicolás Maduro, eliminated five zeros in 2018.

What is the new monetary cone in Venezuela?

On August 5, the Central Bank of Venezuela released a statement to publicize the new monetary expression that would be launched and announced the circulation of a new monetary cone, made up of three coins and five types of banknotes.

When will a digital Bolvar enter circulation in Venezuela?

The digital bolívar, which will wipe out six zeroes from the current sovereign bolívar, will enter circulation on October 1. (venezuelanalysis.com) – The Venezuelan Central Bank (BCV) will overhaul the national currency beginning in October.