Fri. AM KTFA News Articles 8-6-21

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Samson » August 6th, 2021

Venezuela changes the monetary unit of its currency

5th August, 2021

The Central Bank announced today that Venezuela will change the monetary unit of its currency and will delete 6 zeros from it for the second time in 3 years to fix the deteriorating local currency, the bolivar, in light of the collapse of the economy.

President Nicolas Maduro cut five zeros from the currency in 2018, in an effort to simplify complex transactions and accounting processes.

“The value of the bolivar will not change in any way, and in order to simplify its use, its monetary unit has been simplified,” the central bank said in a statement.  LINK

Source: Dinar Recaps

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