Inflation of the Bolivar: Venezuela 2016 Issues
- Written by
Proteus - Published on February 28th, 2017
- Read 1221 Times
Because I have a great personal affinity for South America, it is with some regret, but with a total lack of surprise, that I am announcing Venezuela's new issue of paper money. This new issue, initially dated at August 18th, 2016, is comprised of Bolivares, the national currency of Venezuela, in denominations of 500, 1000, 2000, 5000, 10000, and 20000. The designs will seem familiar as they mimic the previous issue, with some minute changes in design details, a major change in colors, and a huge change in denominations.
Though the inflation of Venezuela's money is absolutely horrific for the country (is inflation ever a good thing?) there is at least one minuscule benefit: at least for a time, it seems like the store owners might be able to put away their weight scales. Inflation in Venezuela has been so terrible that in some instances money is not counted, but weighed!
The banknotes of this issue are not being introduced all in one shot. As of today only the 500, 5000, 10000, and 20000 Bolivares banknotes are in circulation. These are quite readily available on eBay, including sets of the four notes that are circulation at the moment. These current banknotes do have some appeal, though the design is not completely overhauled. The vivid colors do make then an attractive set for paper money collectors.
