Venezuela To Lop Off Six More Zeroes From Their Currency – IOTW Report

Venezuela To Lop Off Six More Zeroes From Their Currency

Bloomberg

Venezuela is preparing to once again lop off zeroes from the national currency in an attempt to simplify daily transactions which sometimes barely fit on a calculator or require swiping cards multiple times to complete a purchase.

The central bank is planning to slash six zeroes from the bolivar as early as August after previous attempts to issue larger-denomination bills failed to resolve problems created by endemic inflation, according to three people with direct knowledge of the matter who aren’t authorized to speak publicly about the plans.

That means one dollar would fetch 3.2 bolivars instead of 3,219,000 at present. More


9 Comments on Venezuela To Lop Off Six More Zeroes From Their Currency

  1. Pretty soon they will be paying by weight. A hundred pounds of bolivar bank notes for a cup of coffee. Hell, at the rate we are going we’ll be paying by weight too.

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  2. I agree with this strategy 100%, I myself just added 9 more zeros to my bank accounts and viola I’m now a billionaire.

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  3. The Zimbabwification of Venezuela. The only solution is a complete reset of the economy to Capitalism. That will only happen with regime change. Good thing for the elites, the citizens gave up their guns in 2012(?).

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  4. Damn. Was hoping to be the first owner of a quadrillion dollar banknote this year. Venezuela has shaved 14 zeroes (3 in 2008, 5 in 2018) from their banknotes and only had 1 more zero to go.

    Next in the warmup circle, the US Federal Reserve.

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  5. Why not just go to scientific notation?
    3.2 E+6.

    Solves the problem and everybody STILL gets to be a millionaire!

    izlamo delenda est …

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  6. This is why the Dirty Dems don’t want anyone to mention Venezuela in the propaganda media. They want the same for us and they are trying to keep Venezuela the worst kept secret in the world.

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