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Hyperinflation: Venezuela Cuts SIX Zeroes From Its Currency | ENDEVR Explains
In a step to fight against hyperinflation, Venezuela unveiled today (Frida, October first) new banknotes. The Bolivar will lose six zeros. One million Bolivar will become one bolivar. The value will still be 25 US dollars. The country is battling high inflation for a long time. It's not the first time that the country resorts to such measures. The Bolivar lost 3 zeros in 2008 during former President Hugo Chavez’ government and 5 more in 2018, already under Nicolas Maduro.
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By EndevrIn a step to fight against hyperinflation, Venezuela unveiled today (Frida, October first) new banknotes. The Bolivar will lose six zeros. One million Bolivar will become one bolivar. The value will still be 25 US dollars. The country is battling high inflation for a long time. It's not the first time that the country resorts to such measures. The Bolivar lost 3 zeros in 2008 during former President Hugo Chavez’ government and 5 more in 2018, already under Nicolas Maduro.