The monetary measures announced by the Venezuelan government, as part of the Recovery, Growth and Economic Prosperity Program, went into effect Monday, as the circulation of the Sovereign Bolivar began around the country. The new Venezuelan currency known as the Sovereign Bolivar, whose symbol is Bs.S., has five fewer zeros compared to the
Venezuela’s New Bolivar is Anchored to Cryptocurrency and It Just Went Into Effect
The new bills (2, 5, 10, 20, 50, 100, 200 and 500) are already in the hands of public and private banks. The Sovereign Bolivar will be anchored to the cryptocurrency Petro, which is backed by the oil reserves of the Caribbean country.