Venezuela To Replace Highest Denomination With Coins

Mired in an economic crisis and looking spectacularly out of its depth, the Venezuelan government has announced that the country’s highest denomination, the 100 Bolivar will be replaced with coins.

The value of the Venezuelan currency has fallen sharply in the past year with the 100 Bolivar exchanging for just two Cents. The government has said the move to swap the 100 Bolivar for coins is to stop smuggling as well as food shortage and has given 72-hours for all Venezuelans to swap the currency.

President Nicolas Maduro said, ‘I have given the orders to close all land, maritime and air possibilities so those bills taken out can’t be returned and they’re stuck with their fraud abroad,”

Leave a Reply

Your email address will not be published. Required fields are marked *