Venezuela to issue new currency worth VEF 100,000

Venezuela to issue new currency worth VEF 100,000
Venezuela is updating its monetary policy

Mubasher: Venezuela announced  the issuance of a new currency worth VEF 100,000 in order to sustain financial stability, which equals $2.4 in the black market.

The new currency aims to stabilise the monetary supply, said the Venezuelan president Nicolás Maduro.

Venezuela is updating its monetary policy, while its currency is under attack by neighbour countries, Maduo added.

International Monetary Fund (IMF) forecast that inflation in venzuela will hit 2300% in 2018 in line with the economic crisis facing the oil-exporting nation.

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Source: Mubasher

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