Image copyright Getty Images The bill of the largest denomination in Venezuela will be without value, beginning Friday.
The surprise announcement of president Nicolas Maduro on television can cause a chaos in the coming days in banking institutions, while the citizens change their tickets or entering in their bank accounts.
Maduro explained that the reason is combat the smuggling of currency paper venezuela.
it is Precisely the next week will begin the entry into force progressive the new banknotes of 500, 1.000, 2.000, 5.000, 10.000 and 20.000 bolivares.
The extent of introducing a new cone-monetary, expected for a long time, assumes the admission of the devaluation of the bolivar and the high inflation, the highest in the world.
In recent days, Maduro has alleged that mafias in the border colombo-venezuelan hoard bolivars (in particular, of the ticket of 100) to buy subsidized goods in Venezuela that then resell it in Colombia with huge profits.
“I have instructed the minister of the Interior, Nestor) Reverol make a meeting with the banking association of Venezuela and co-ordinate the withdrawal of the ticket of 100 bolivars in 72 hours,” Maduro said Sunday in his weekly television program.
As the Monday is a bank holiday, the time limit of 72 hours will begin on Tuesday. is on Friday, the ticket 100 will be without value.
“you have to keep hitting the mafias. In the next few days we’re going to continue this set of decisions to defend our nation from attack and that makes us from Colombia,” added Maduro.
The government justifies the economic crisis in the country an “economic war” of the corporate sector, and foreign countries.
Maduro announced in the week that he would meet with his colombian counterpart, Juan Manuel Santos, to demand repeal a resolution that allows the bolívar switch freely on the colombian side of the border, in the cities of Cucuta and Maicao.
There are many venezuelans eager to gainr dollars in exchange for their bolivars, as in Venezuela, governed by a strict exchange control that restricts the sale of foreign currency to private individuals.
Maduro said that once the expiry of the period of three days, there will be 10 more people to be able to redeem their banknotes 100 bolivares.
According to figures from the Central Bank of Venezuela (BCV), most of the banknotes in circulation are 100 bolivares, for what many consider to the extent required by Mature further complicate the handling of cash in the country.
The bill of the largest denomination, the 100 is equivalent currently to$ 0.15, according to the official exchange rate. According to the parallel in the black market, it just has a value of US$ 0.02.
The new bill of the largest denomination, the 20.000 bolívares, equivalent to about $ 30 calculated at the higher official exchange rate, of about 664 bolivars, but will barely be able to buy about 4.5 dollars on the parallel market.
“The situation could lead to chaos the next few days in Venezuela. In the past few weeks there have been generated problems of access to the cash, something that could increase with the withdrawal of the ticket of greater value,” said the correspondent of BBC World news in Venezuela, Daniel Garcia Framework.
“especially if the parallel input of the new notes is not effective,” he added.
“And who will accept payment with 100 bolivars to the next three days?”, he asked.
inflation makes venezuelans are forced to carry large amounts of tickets for any transaction less as they buy bread or pay for a taxi.
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