Venezuela introduces new currency, drops six zeros

Venezuela is set to debut a new currency that will feature six fewer zeros, a response to years of some world’s worst inflation.

The highest denomination of the Venezuelan bolivar had previously been a one-million bolivar note, currently worth a little less than $0.25. That will now become a one bolivar note.

Introduced on Friday, the highest denomination for the new currency will be 100 bolivar, worth a little less than $25.

Upon announcing the currency change in September, Venezuela’s central bank said the bolivar “will not be worth more or less; it is only to facilitate its use on a simpler monetary scale”.

Introduced on Friday, the highest denomination for the new currency will be 100 bolivar, worth a little less than $25.

Upon announcing the currency change in September, Venezuela’s central bank said the bolivar “will not be worth more or less; it is only to facilitate its use on a simpler monetary scale”.

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