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Latin American Economy & Business - April 2018 (ISSN 1741-7430)
Venezuela: Currency redenomination looms
Ten years after the former President Hugo Chavez oversaw a currency revamp that saw three zeroes knocked off the existing bolivar, with the launch of a new “strong” bolivar (bolivar fuerte), current President Nicolas Maduro is doing the same thing. In late March, the president announced that the new “sovereign” bolivar (bolivar soberano) would launch from 4 June, with new banknotes that in effect have three zeroes eliminated from the existing bills.
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