Sovereign Bolivar ( Spanish: Bolívar Soberano , in the All-Russian Currency Classifier - “Bolivar Soberano” [1] ) is a new currency introduced in Venezuela on August 20, 2018 to replace the Venezuelan bolivar , which experienced hyperinflation .
| Bolivar Soberano (Russian) | |
|---|---|
Bolívar Soberano (Spanish) | |
| Codes and Symbols | |
| ISO 4217 Codes | VES (928) |
| Characters | Bs. S. |
| Territory of circulation | |
| Issuing country |  Venezuela |
| Derivative and parallel units | |
| Fractional | centimo ( 1 ⁄ 100 ) |
| Coins and banknotes in circulation | |
| Coins | 50 centimo, 1 bolivar |
| Banknotes | 2, 5, 10, 20, 50, 100, 200, 500, 10 000, 20 000 and 50 000 bolivars |
| Currency history | |
| Introduced | 08/20/2018 |
| Predecessor currency | bolivar |
| Issue and production of coins and banknotes | |
| Emission Center (Regulator) | Central Bank of Venezuela |
| www.bcv.org.ve | |
 Wikimedia Commons Media Files | |
It was originally planned that he would replace the bolivar at the rate of 1000: 1. July 4, 2018, however, after the Central Bank of Venezuela announced the release of new banknotes and coins and published their images, hyperinflation made adjustments to the plans. Due to problems with the production of a new series of banknotes, the beginning of the financial reform was postponed until August 4, 2018. The postponement of the term was explained by the circulation of banks, which took more time to set up payment systems and devices for receiving and issuing new banknotes [2] .
At the end of July 2018, President Nicolas Maduro of the Republic announced that the reform would take place on August 20, 2018 at the rate of 100,000: 1. It was also announced that the new currency will be tied to the Petro cryptocurrency in the ratio: 1 petro = 3600 sovereign bolivars [3] [4] [5] . At the same time, from August 20, the minimum wage was increased , which amounted to 1800 sovereign bolivars [6] [7] .
Banknotes in denominations of 2, 5, 10, 20, 50, 100, 200 and 500 sovereign bolivars and coins of 50 centimo and 1 bolivar were issued.
After the denomination, the fall of the Venezuelan national currency continued; the real rate of sovereign bolivar by the end of 2018 fell by more than 10 times [8] .
On June 13, 2019, banknotes of 10,000, 20,000, and 50,000 bolivars [9] [10] were issued.
Notes
- ↑ Change 43/2018 OKV All-Russian Currency Classifier OK (MK (ISO 4217) 003-97) 014—2000 "(adopted and enforced by the Order of Rosstandart dated 10.24.2018 N 840-st) , legalacts.ru
- ↑ The introduction of a new currency in Venezuela is postponed // bonistika.net
- ↑ A new date for the start of the monetary reform in Venezuela has been announced // bonistika.net
- ↑ Maduro revealed the details of monetary reform , NEWS.ru
- ↑ Un petro será equivalente a 3.600 bolívares soberanos // Central Bank of Venezuela (Spanish)
- ↑ Maduro called the value “petro” and increased the minimum wage in Venezuela // Izvestia
- ↑ Ejecutivo fija salario mínimo de los venezolanos en Bs.S 1.800 // Central Bank of Venezuela (Spanish)
- ↑ DolarToday Venezuela
- ↑ New currency notes of Venezuela , bonistika.net
- ↑ Tres nuevos billetes se incorporan al Cono Monetario vigente , Central Bank of Venezuela (Spanish)
Links
- Bolívar Soberano , Central Bank of Venezuela (Spanish)