RealNews

Venezuela introduces new currency

Venezuela is launching a new currency with the new year, lopping off three zeros from denominations in a bid to simplify finances and boost confidence in a money that has been losing value due to high inflation. President Hugo Chávez’s government says the new currency — dubbed the ”strong bolivar” — will make daily transactions easier and cure some accounting headaches. Officials also say it is part of a broader effort to contain rising prices and strengthen the economy. Full Story

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