BCV announces new currency reconversion in Venezuela
Through social networks, the Venezuelan organization indicated that as of October 1st, the Bolívar Digital will come into effect
The Central Bank of Venezuela (BCV) announced that as of October 1st, the Bolívar Digital will come into effect in Venezuela, which implies a monetary reconversion.
The Venezuelan agency detailed through a statement that the new monetary cone arrives to facilitate transactions for the general population.
This new scale will remove a total of six zeros from the local currency, being the equivalent of what is now known as 1,000,000 bolívares to just 1 bolívar.
The BCV assures that this measure comes at a historical moment in which Venezuela is going through a process of economic recovery.
In the issuing entity’s statement, it is clarified that “the introduction of the digital bolivar does not affect the value of the currency“, so that “the bolivar will not be worth more or less“, but rather that it seeks to carry out simpler transactions.
K. Tovar
