Currency Today : Venezuela 10

Because of the high inflation in Venezuela, and the need more and more banknotes to pay for basic products, only two solutions were possible.
First, the national bank could create higher denominations.
But so far the highest value was already 100,000 boliváres fuertes ...
This would only lead to even higher inflation.

And who wants to pay millions or billions for a chicken ...

Buying a chicken and the counter value in banknotes ... in 2018

Second solution was to create a new value, by skipping 5 zero's off the old banknotes.
So 100,000 became "1" again.
This ment that all 'old' banknotes had to be exchanged for 'new' onse, or became worthless afterwards.

In 2018, a new set of banknotes were issued.
They are similar in style to the first and second issue of the Boliváres fuertes.
Because 5 zero's were dropped, the currency got a new name : Boliváres Soberanos (sovereign bolivares).

The issued notes have following values : 2, 5, 10, 20, 50, 100, 200 and 500.
Since 1 BsS equals 100,000 BsF, the new notes follow exactly the line of inflation of the previous sets :

On top : 1st issue of Boliváres fuertes notes (2 to 100)
In the middle : 2nd set of Boliváres fuertes notes (500 to 100,000)
at the bottom left (in red) the value of the soberanos in fuertes-notes.
at the bottom right : the new Boliváres soberanos (2 to 500)

Where in 2007, the highest denomiation was 100 boliváres, the highest denomination in 2018 is 50 million (old) bolivares.

One coffee por favor... that's one million please ...

counting per 1000 boliváres to pay for food

I present the new notes in my next posts.