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It has been reported that the Banco Central de Venezuela has procured the services of a Russian-based currency production facility for a new supply of bolivar-denominated banknotes
Category Archives: venezuelan banknotes
Venezuela: Excessive inflationary conditions prompt issue of new, larger banknote denominations
The Banco Central de Venezuela has hastily announced (12th June) the issue of three new, larger banknote denominations just nine months after they re-denominated the bolivar currency to keep one step ahead of the country’s runaway annual rate of inflation. The bolivar soberano banknotes in denominations from 2-500 bolivares and two coins of one bolivar and 50 centavos were soon made redundant due to the escalating level of inflation
Venezuela: Central Bank announces new revaluation to rescue beleaguered currency
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