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Venezuelan bolivars

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Play Venezuelan Bolivars Online CasinoThe daily depreciation of the Venezuelan bolivar has been a cause of a severe cash shortage in the country. In 2007, the bolivar was worth $50 billion. Today, the value of one bolivar is less than a dollar. The new digital currency will be printed in denominations of 5, 10, 20, 50, 100, and a coin worth one. Despite the new digital currency, the current situation of cash shortage is not very favorable.The new law states that if a Venezuelan bolivar is devalued, it must be exchanged for a replacement currency, the government debt, which bears interest at a market-determined rate. Existing laws that contradict the law are null and void. The new law becomes effective immediately and provides a blueprint to beat the hyperinflation in Venezuela. The new law is intended to restore confidence in Venezuelan currency and the exchange rate.In addition to the venezolano, the new bolivar is divided into 100 cents. This new currency replaced the previous venezolano, peso, and bolivars. Its ISO 4217 currency code is VED”.The Venezuelan bolivar is highly unstable, but the country’s oil and gold mining industries generate more hard currency for the country. This means that the bolivar will stabilize at some point, but it will never hit mega-devaluation levels. The socialist regime has reined in government spending and loosened the economy. In any case, the stabilization of the bolivar comes too late for the country’s citizens. In the meantime, Venezuela is facing a huge crisis and is suffering from food and medicine shortages.The Venezuelan government is attempting currency reconversion for the third time in 13 years. The new currency will be called the bolivar digital. Former president Hugo Chavez promised that removing the three zeros would improve the economy, but did not implement structural changes to deal with the problem. Instead, the socialist government has resorted to currency reform. Its economic history is bleak. Its currency is worth less than a loaf of bread in Venezuela.The currency in Venezuela has become worthless, thanks to hyperinflation. The Venezuelan people now use U.S. dollars, euros, and cryptocurrencies as their main means of payment. But the bolivar is still largely worthless compared to the U.S. dollar and euro, and the country’s debt levels are still high. The current government is proposing the creation of a new oil-backed cryptocurrency known as the petro.”