Central Bank of Venezuela expands the monetary cone
The financial institution reported the incorporation of three new pieces into the current monetary cone: 10,000, 20,000 and 50,000 bolivars, which will begin to circulate gradually
The Central Bank of Venezuela (BCV) announced that as part of the process of extending the current monetary cone it will include three new notes to the current family of monetary species. The purpose of the measure is to make payment systems more efficient and facilitate commercial transactions.
The new pieces of 10,000, 20,000 and 50,000 bolivars will begin to circulate gradually. They are expected to complement and optimize the current monetary cone to meet the requirements of the Venezuelan economy.
The institution recognizes the impact of hyperinflation in the country by significantly expanding the possibilities of payment in cash and making it possible for banks to increase the amounts available for withdrawal at ATMs and bank offices.
The entity considers it appropriate to optimize and make more efficient the different payment systems, commercial transactions and the handling of cash circulating on the street. In the same way, it is expected that banks can issue a greater amount of cash to citizens.
L.Sáenz
Source: Banca & Negocios
