The E-Sylum:  Volume 10, Number 11, March 18, 2007, Article 25

VENEZUELA REVALUES CURRENCY, ISSUES NEW COINS

Dick Johnson forwarded this article about a monetary change in 
Venezuela and the resulting new coins:

"The Central Bank of Venezuela (BCV) directorate defined the scale 
Of "bolivar fuerte" (strong-bolivar) coins and bills that it will 
begin to circulate starting on January 1st, 2008.

"The country will travel back in time to 1844, and it will once again 
circulate coins like the one-cent coin, first on a scale of coins that 
will increase in increments of five cents; the second coin is a five-cent 
coin, better known as a "puya;" then the ten-cent coin, followed by the 
"locha" worth 12.5 cents; next, the "medio" worth 25 cents; and the 
"real" worth 50 cents; and finally ending up with the new 'bolívar 
fuerte.'

"The bills will be printed in the following denominations: a bill of 
two bolívares fuerte, a ten, a twenty, a fifty, and a hundred bolívar 
fuerte bill, and they will circulate under the Bs.F currency sign.

"The monetary reform system is based on taking three zeros off of the 
present currency. For example, the two-thousand bolivar bill will be 
converted to a two bolívar fuerte bill, and the fifty-thousand bolivar 
bill will be a fifty bolívar fuerte bill."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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