The Banco Central de Venezuela will introduce in August 20 its new banknotes, denominated in bolívares soberanos.
When the new notes are introduced, all the old ones denominated in bolívares fuertes are to de retired from circulation. Thus there will be no new banknote or coin available for the denomination of 1 centavo soberano (= VEF1,000), which is needed for some small payments.
Therefore the Banco Central de Venezuela is considering keeping in circulation the current banknotes of 1,000 bolívares fuertes (VEF1,000.1) which are equal to 1 centavo soberano,
©21018 Monetary Research Institute
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