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Venezuela: High-Value Inflationary Denominations Replace Previous Series of Banknotes

December 20, 2016 in Blogs, Currency, Education, History, Investing, News, Numismatica, Numismatics, Opinion, World Coins

By: Michael Alexander News.CoinUpdate.com (Coin Update News)

venezuela-2016-note-series-main

The Banco Central de Venezuela have begun to recall the current 2008 series of banknotes and replace them with six new, higher-value denominations in an effort to stabilize the economy and enable the public to conduct everyday purchases.

As inflation has essentially rendered worthless the denominations of the Fuerte (“strong”) Bolivar—originally introduced in 2008, also as a means of controlling Venezuela’s then-runaway inflation—the series, which featured vertical obverse designs and included denominations from 2 to 100 Fuerte Bolivares, was introduced at a ratio of 1,000 old Bolivares to one new Fuerte Bolivar. At the time of its introduction, the exchange rate… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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