New Monetary Change in Venezuela

rorocando

@rorocando22 · 03 Sep 2021

New Monetary Change in Venezuela

One of the news that has highlighted the most in recent days and we are still sharing this information because of all the confusions generated by the change in the monetary cone..
From the 1st. in October 2021, a new monetary cone will come into force, involving the reduction of six (6) zeros to the currency. Pursuant to Decree No. 4,553 of August 6, 2021, Decreing the New Monetary Expression; published in the Official Gazette of the Bolivarian Republic of Venezuela number 42,185 of 6 August 2021, the measure aims to facilitate transactions and simplify payments, as well as to make systems more efficient of computes and accounting records. The new monetary cone family will consist of five (5) banknotes and one (1) currency. What do you need to know? For the new expression six (6) zeros will be eliminated to the monetary cone or divide by one (1) million the national currency. The measure seeks to facilitate transactions and simplify payments, as well as make computing systems and accounting records more efficient. The new monetary cone has five (5) bills with Bs values. 100, Bs. 50, Bs. 20, Bs. 10, Bs. 5 and one (1) coin of Bs. 1. The new banknote and currency family will begin to circulate progressively in the country and will coexist with the current cone.