Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
August 15, Wednesday 2018 2:36 AM       

       HEADLINES: Chemmanam Chacko passes away                                              Let contentious issues, extraneous debates not distract us: Prez's I-Day message to the nation                                              Erdogan says Turkey to 'boycott' US electronic goods                                              Kohli's plea to fans: Never give up on us                                              David Silva bids adieu to International football                                              13 players including Sanju Samsom served show-cause notice                                              Kaumudi Facebook
       WORLD Next Article: Countries have ripped US on trade: Trump  
       Venezuela pushes launch of new banknotes
         Posted on :22:28:40 Jun 3, 2018
       Last edited on:22:28:40 Jun 3, 2018
         Tags: Venezuela, new banknotes

CARACAS: Venezuela on Saturday has shifted the date for the introduction of new banknotes to August 4, the country's government said.

The Venezuelan government was supposed to introduce the new banknotes on June 4, but the Venezuelan Banking Association (ABV) had requested more time to prepare for the switch, Xinhua reported.

The new date was announced after Venezuelan President Nicolas Maduro met with ABV officials.

The new banknotes eliminate three zeroes from the existing currency, as Venezuela has been hit hard by runaway inflation and negative GDP growth due to weak economic reforms.

The bolivar currency has weakened considerably, leading to a shortage of basic necessities and fuel. Venezuela recently saw massive and violent protests over the rise in prices.

"The executive branch, after evaluating the proposal, has agreed to reschedule the start of the currency redenomination for Aug. 4, 2018," according to a statement from the Sectoral Vice Presidency of Economy.

The decision aims "to strengthen constructive dialogue among all sectors of national life and make progress towards consolidating peace, and economic and social prosperity," the statement added.

On a related note, Maduro was re-elected for a second six-year term in the presidential elections on May 20. During his swearing-in address, he said that Venezuela had entered a new phase and has vowed to fight the mafias and revamp the economy.

Next Article: Countries have ripped US on trade: Trump
Erdogan says Turkey to 'boycott' US electronic goods  
Netanyahu demands 'total' Gaza ceasefire  
Khan's party bags 33 reserved seats; PTI NA tally stands at 158  
NASA launches Parker Solar Probe mission to 'touch the Sun'  
Ivanka Trump condemns white nationalist rallies: There is no place for neo-Nazism in US  
Pakistan declares 'water war' on people of PoK  
Nobel Prize-winning author V S Naipaul dies at 85  
Six wounded in Balochistan suicide attack  
Taliban, Kabul government both claim embattled Afghan city  
Malaysia ex-PM Najib to face corruption trial in February  
Imran Khan to take oath as Pakistan Prime Minister on Aug 18: party leader  
Indian envoy calls on Imran  
Another earthquake hits Lombok  
Argentina's Senate trashes bill to legalise abortion  
Koreas to hold high-level talks next week  
Pakistani authorities blacklist Sharif's sons, block passports  
Trump nominates Indian-American law professor to agency on privacy and civil liberties  
Brazil orders shutting of border to Venezuelan migrants  
German couple jailed for selling son online for sex  
US to reinstate sanctions on Iran  
Pakistan's new vaccination drive, 'final push' against polio  
Ex-Bangladesh PM Khaleda Zia gets 6-month bail in Cumilla bus arson case  
Chicago shootings: 44 people shot, five killed  
UK trade minister says 'no deal' Brexit more likely than not  
Bangladesh PM urges protesting students to return home  
Do you think there is pressure on police not to arrest Jalandhar bishop Fr Franco?
no opinion
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy