France 24: A million bolivars become one as Venezuela recalibrates battered currency
Venezuela unveils new banknotes on Friday to once again slash zeroes off its currency, battered by runaway inflation that has compounded the country's economic collapse and left many struggling to put food on the table.
The national economy has shrunk by 80 percent since 2013 as the oil price crashed and output dwindled during decades of under-investment, US sanctions, and mismanagement by successive socialist governments.
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Update #1: Venezuela introduces new currency with 6 fewer zeros (AP)
Update #2: Venezuela to subtract six zeros from currency, second overhaul in three years (Reuters)
WNU Editor: Changing the currency is not going to solve the problem. And it is certainly not going to alleviate this crisis .... Study Says Three In Four Venezuelans Live In Extreme Poverty (September 30, 2021).
