Venezuela Bank to
Revalue Currency
The monetary revaluation
plan in Venezuela, aimed
at eliminating three
zeroes from the bolivar,
was one of the
priorities of the
Central Bank's
communication strategy
on Wednesday.
Bank officials,
responding to questions
by communities and
companies, informed that
the purpose of the
monetary revaluation
announced by the issuing
institute and the
executive is to
strengthen the currency
and stabilize the
economy.
They explained aspects
of the revaluation,
equivalence between the
present currency and the
new coins and bills, and
other important
information.
The bank highlighted
that greater efficiency
will be attained in the
payment system, which
will be favored by the
management of smaller
figures facilitating
trade operations,
calculation of all
transactions and
countable registers.
As part of those
actions, authorities
also activated what they
call Plan Bolivar Fuerte
-strong Bolivar plan- in
the presence of experts
in all the nation's
federal entities.
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