The Banco Central de Venezuela has confirmed (25th July) that, per the instructions of President Nicholas Maduro, newly revalued banknotes will be issued which will see five zeroes removed from the “bolívar fuerte,” which was introduced in 2009 by the previous president, the late Hugo Chavez.
In an effort to combat a staggering level of inflation, which has been documented by the International Monetary Fund to have now reached one million percent, the value of Venezuela’s national currency is now eaten away day by day