Venezuela is introducing a six-zeros banknote, valued at less than a dollar
Venezuela is introducing a six-zeros banknote, valued at less than a dollar
Saturday 6 March 2021 | 10:40 a.m.
The Venezuelan Central Bank announced that three new banknotes will be circulated in the country as of March 8, in denominations of 200,000, 500,000 and one million bolivars .
Venezuela is experiencing a severe social and economic crisis in recent years, in addition to high inflation, the devaluation of the national currency, and a shortage of basic commodities .
The US dollar has now reached 1.89 million bolivars .
According to the United Nations, about 4.5 million people have left the country due to the deteriorating economic and social conditions, nearly 80% of them to neighboring countries .
And the inflation rate in Venezuela rose at the end of last year to about 3000%.
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