Tag: Bolivars

The Venezuelan Government Recalls the Highest Denomination Bill in Circulation

In a shocking announcement, President Nicolás Maduro has ordered that the highest bill in circulation, the 100 Bolivar note ($0.025), be taken off the streets in less than 72 hours. The President argued that the banknotes are being smuggled out of the country by local mafias and powerful economic “enemies”. Venezuela’s president has been denouncing the “mafias”, which –according to him and his staff–have been extracting currency bills outside the …
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Bitcoin Price Increases 30% In Venezuela Due to Currency Devaluation

Venezuela, the South American country famous for its cheap gas (fuel) prices, has experienced a surge in both Bitcoin volume and price. The country is in the middle of the worst economic crisis ever seen in its recent history. According to the Venezuelan consulting firm, Ecoanalítica, the country’s annualized inflation reached the 1.108% mark. The Venezuelan government has unofficially banned the country’s central bank (BCV) from releasing economic indicators such as inflation figures …
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