Venezuela lopped off three zeros when it
replaced its old currency in January 2008. The arrival of new banknotes on
December 18 shows the government is committed to putting those zeros back on.
The newest denomination, 500 bolívares, will soon be joined by 1,000, 2,000,
5,000, 10,000, and 20,000 bolívares notes. Higher denominations are supposed to
help Venezuelans deal with rising prices. But it isn’t new notes that
hard-working Venezuelans need; it’s a new money. More…
Thursday, January 12, 2017
The Case For Currency Substitution In Venezuela
Venezuela lopped off three zeros when it
replaced its old currency in January 2008. The arrival of new banknotes on
December 18 shows the government is committed to putting those zeros back on.
The newest denomination, 500 bolívares, will soon be joined by 1,000, 2,000,
5,000, 10,000, and 20,000 bolívares notes. Higher denominations are supposed to
help Venezuelans deal with rising prices. But it isn’t new notes that
hard-working Venezuelans need; it’s a new money. More…
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