Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

Third shipment of 500-bolivar banknotes arrives in Venezuela

December 28, 2016


Abstract : A third shipment of 500-bolivar banknotes arrived in Venezuela in the early hours of Tuesday, as the inflation-ravaged country introduces new larger-denomination banknotes.

CARACAS, Dec. 27 (Xinhua) -- A third shipment of 500-bolivar banknotes arrived in Venezuela in the early hours of Tuesday, as the inflation-ravaged country introduces new larger-denomination banknotes.

The shipment contained 35.5 million 500-bolivar bills, each worth just 75 U.S. cents, according to the official rate. Before the banknote switch was announced by the government in mid-December, the largest denomination bill was the 100-bolivar.

The next shipment of new banknotes is set to arrive on Thursday.

The rollout of the new banknotes has been plagued by glitches, including late deliveries from the foreign printing firm, which have led to cash shortages.

The switch, extended until Jan. 2, will see the 100-bolivar bill be taken out of circulation and replaced with 500-, 1,000-, 2,000-, 5,000-, 10,000- and 20,000-bolivar bills.

With runaway inflation, consumers have had to lug bagfuls of the 100-bolivar notes to shop for even basic items.

Scan the QR code and push it to your mobile phone

Keyword: Venezuela bolivar banknotes

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial