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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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