Venezuela to Cut Six Zeroes Off Bolivar to Simplify Transactions
- Central bank may print new bills in August: people familiar
- Inflation remains high, though dollarization has slowed gains
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Venezuela is preparing to once again lop off zeroes from the national currency in an attempt to simplify daily transactions which sometimes barely fit on a calculator or require swiping cards multiple times to complete a purchase.
The central bank is planning to slash six zeroes from the bolivar as early as August after previous attempts to issue larger-denomination bills failed to resolve problems created by endemic inflation, according to three people with direct knowledge of the matter who aren’t authorized to speak publicly about the plans.