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Explainer · Venezuela · Oil & Currency The 2026 U.S.-Venezuela Oil Deal, Explained: 65 Billion Barrels and the Currency Question On August 28, 2026, President Trump announced what he called the biggest oil deal in world history: a U.S. partnership covering 65 billion barrels of Venezuelan reserves. Venezuela's money has always risen and fallen with its oil, so here is what was announced, how the country got here, and why collectors of the bolívar are watching closely. …

The Central bank of Venezuela (BCV) announced this Thursday the third monetary reconversion in the era of Chavismo that will take effect on October 1 and will eliminate six zeros from the current sovereign bolivar, which will be called the digital bolivar.“As of October 1, 2021, the digital bolivar will come into effect, by applying a monetary scale that removes six zeros from the national currency. In other words, all monetary amounts and everything expressed in national currency wi …