Venezuela 50 Bolivares Set of 5 New Unc 2021 Banknotes 50 Million x 5 Pcs
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The million-to-1 change for the bolivar is intended to ease both cash transactions and bookkeeping calculations in bolivars that now require juggling almost endless strings of zeros.
The new bolivar appears to be yet another attempt by the government to combat hyperinflation. Last year, according to the local central bank, inflation reached 2,958%, and some would argue that it was even higher.
Now, the digital bolivar consists of a new series of five banknotes and a government-issued coin that replaces the previous currency, the bolivar soberano, which was also known as the sovereign bolivar (English translation of “bolivar soberano”) from which six zeros have been removed. In other words, one digital bolivar is worth the same as 1 million sovereign bolivars.
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