Monetary reconversion in Venezuela
INFORMATION ON ECONOMIC MATTERS
(image of my authorship)
The national executive announces a measure that will enter into force this Monday, August twenty (20), activated through the national security plan for the distribution of the new monetary cone in order to facilitate both economic and financial transactions, going from eliminating three (03) zeros to five (05) and the conversion would be as follows:
50.000.000 Bs - 500 Bs.S
20.000.000 Bs - 200 Bs.S
10.000.000 Bs - 100 Bs.S
5.000.000 Bs - 50 Bs.S
2.000.000 Bs - 20 Bs.S
1.000.000 Bs - 10 Bs.S
500.000 Bs - 5 Bs.S
200.000 Bs - 2 Bs.S
100.000 Bs - 1 Bs.S
50.000 Bs - 0.50 Bs.S
20.000 Bs - 0.20 Bs.S
10.000 Bs - 0.10 Bs.S
New money!
It should be noted that this reconversion will be accompanied by a new tax system in order to advance in the recovery of the country's economy. In addition, the new monetary cone will start with a new modality of anchoring with the petro cryptocurrency, that is; the outstanding offer of the Sovereign Bolivar will be subject to the amount of petros available and would act as a currency board, at the same time it will be associated to the basket or value of the price of Venezuelan oil.
In the Official Gazette N ° 41.460 published on Tuesday, August 14, the rules that will govern the monetary reconversion process were announced, according to a resolution issued by the Central Bank of Venezuela (BCV), as the governing body creating a regulation that It includes 27 articles and 10 chapters, with the main objective of giving monetary restatement so that workers recover their purchasing power.
What do you think of this new measure? Leave your comments!
I love posts like this. Great information @yuneitsy!
None of it is money, it is all paper. The dollar is not money either. It is printed at the top! "Federal Reserve Note!"
A note is nothing more than a slip of paper that says ,"I owe you." on it.
I have been watching your situation there for some time as well as the currency rates in Chile, Argentina, Paraquay, and Venezuela.
My question is "Why would the people accept another kind of paper?" The only thing giving it value is the word of a rather poor money manager, your president.
It's good that you like it and I hope to continue counting on your support! Greetings to you: *
As for the question, you leave it very clear with the answer, I completely agree, it is a desperate action on the part of the president who is looking for a change that is obviously difficult to achieve as these things and we have been observing it since we had the Last years of example, the change that the old president made at the time.
We do not enter much of what happens in your country because in my currency the guaraní was always stable with a government of the right and still dictatorial. but I think that the pseudo messiahs that have been raised throughout history believing themselves to be Salvador are always accompanied by visionaries as happened in Cuba, they finally have internet and they locked themselves in a structure that they created to be the best without the western nations I hope that the dog at least I reach them to eat. Blessings
De esta manera desean ganar confianza de las personas, una especie de "Reactivación", que la gente confíen en las instituciones y vuelvan a adquirir a un mayor precio todo lo que prácticamente regalaron, aumentan la producción. La gente ya mejor, comienza a endeudarse y luego., PUF!!!! otra crisis. No puede ser de otra manera cuando se pone las esperanzas en un papel
Así mismo es amigo, pero eso de ganar la confianza de las personas está un poco difícil, la mayoría de los venezolanos sabemos que esta medida no nos ayudara a salir de la crisis, es solo una forma de disfrazar la realidad que ante tantos cambios hemos evidenciado y este no sería una excepción. Saludos, te sigo y me encantaría poder contar con la suscripción mutua ;)