MONETARY RECONVERSION
As of June 4, 2018, the Monetary Reconversion announced by the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, will come into effect, which consists of the elimination of three zeros to the current monetary cone, in order to simplify transactions, accounting systems and accounting records.
With the Reconversion, a new family of monetary species will be circulated, consisting of 8 bills (Bs.S 2, Bs.S 5, Bs.S 10, Bs.S 20, Bs.S 50, Bs.S 100, Bs.S 200 and Bs.S 500) and two currencies (50 cents and Bs.S 1) that will replace the current current cone.
WHAT IS RECONVERSION?
The Monetary Reconversion is the total modification of the current monetary cone that implies the change of monetary scale and of everything that is expressed in bolivars. With the elimination of three zeros, economic and commercial transactions will be facilitated, as well as accounting systems and accounting records will be more efficient.
BECAUSE A RECONVERSION?
The Sovereign Bolivar will promote the patriotic sense and the valuation of the currency. In addition, it will support a new era of growth in the context of economic renewal. In this way, prices, salaries, social benefits, taxes and any payment operation in national currency must be done with the new sovereign bolivar, which is why prices should be restated by dividing the previous ones by 1,000.
HOW DOES THE MONETARY RECONVERSION APPLY?
The resolution establishes that when the third decimal of the re-expressed amount is equal to or greater than five (5), the second decimal will be raised by one unit, while when the third decimal of the restated amount is less than five (5), the Second decimal will remain the same with the purpose that all figures are expressed with two decimals. Likewise, it indicates that any fraction resulting from the restatement (when dividing by 1,000) that is less than zero, five (0.5) cents, will be equal to the lower cent, while that of any fraction resulting from the aforementioned restatement that is equal or higher than zero point five (0.5) cents, it will be equal to the highest cent.
NEW CONE
New family of tickets
With the reconversion, a new family of monetary species will be formed, consisting of 8 bills of 2, 5, 10, 20, 50, 100, 200 and 500 Sovereign Bolivars. (Bs. S). In addition, there will be two coins (50 cents and Bs.S 1) that will replace the current cone in force.
New family of front and back tickets:
COINS OF 50 CENTS AND ONE (1) BOLIVAR
2 BOLIVARS TICKET
Obverse:
Josefa Camejo (1791-1862)
Back:
Cotorra Cabeciamarilla (Amazona Oatrix)
Cayo Sal (Parque Nacional Morrocoy)
5 BOLIVARS TICKET
Obverse:
José Felix Ribas (1775-1815)
Back:
Sapito Rayado (Atelopus cruciger)
Parque Nacional Henri Pittier (Valles de Aragua, Estado Aragua)
10 BOLIVARS TICKET
Obverse:
Rafael Urdaneta (1788-1845)
Back:
Oso Palmero (Myrmecophagatrydactyta)
Relampago del Catatumbo (Parque Nacional Cienagas de Juan Manuel, Estado Zulia)
20 BOLIVARS TICKET
Obverse:
Simón Rodriguez (1769-1854)
Back:
Jaguar (Panthera Onca)
Parque Nacional Waraira Repano
50 BOLIVARS TICKET
Obverse:
Antonio José De Sucre (1795-1830)
Back:
Cunaguaro (Leopardus Pardalis)
Playa Medina (Parque Nacional peninsula de Paria Estado Sucre)
100 BOLIVARS TICKET
Obverse:
Ezequiel Zamora (1817-1860)
Back:
Mono Araña del Norte (Ateles Hybridus)
Parque Nacional Guatopo (Estado Miranda)
200 BOLIVARS TICKET
Obverse:
Francisco De Miranda (1750-1816)
Back:
Guacamaya Verde (Ara Militaris)
Parque Nacional Waraira Repano
500 BOLIVARS TICKET
Obverse:
Simón Bolívar (1783-1830)
Back:
Turpial Común (Icterus Icterus)
Parque Nacional Macarao
From May 1, the amounts and prices must be expressed in Bolivars and Bolivars Sovereigns. In addition, the checks and other credit issued until June 3, 2018, and presented for collection beginning on June 4, 2018, will be understood as the amount automatically restated in Sovereign Bolivars. "
