Venezuela’s new series of bank notes, to be called bolívares
soberanos, and necessary because the nation’s rampant inflation turned
much of what it has been using into nothing more than play money, was
supposed to be introduced on June 4.
When the Maduro government delayed it to Aug. 4, the national
banker’s association asked for an extra month to prepare.
Inside Coin World: 1979-P Anthony, Wide Rim
dollar is scarce The “Readers Ask” column
explains how a 1979-P Anthony, Wide Rim (Near Date) dollar differs
from the more common 1979-P design, and "Collectors'
Clearinghouse" investigates several unusual brockages.
As of now, the Monetary Research Institute reports in its MRI
Banker’s Guide to Foreign Currency, there is no indication that
any of the seven new denominations, from 2 to 200 bolívares soberanos,
have even arrived in Venezuela.
Since the announcement of the new currency, the Venezuelan economic
situation has only gotten worse. Venezuela’s present currency, the
bolivar fuerte (strong bolivar), was trading on the free market at 3.6
million per U.S. dollar during the last week of June.
At that rate, a complete set of 2-, 5-, 10-, 20-, 50-, 100-, and
200-bolívares-soberanos notes would be worth 26 U.S. cents.
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The Monetary Research Institute says that is about half of what it
costs to print them.
One bolívar soberano is equal to 1,000 bolivares fuertes and 1
million pre-2008 bolívares.