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Venezuela introduces digital national currency

According to the country’s Central Bank, from October 1, the Venezuelan government will introduce a digital national currency six zeros less than in paper money.

“Starting October 1, the digital bolivar will start operating on a monetary scale that will remove six zeros from the national currency,” the bank said in a statement.

Thus, “everything expressed in the national currency will be divided by one million.”

“The introduction of digital Bolivar will not affect the value of the currency, ie the currency will not cost more or less; this is done to facilitate its use, “said the Central Bank.

At the same time, citizens will be able to continue using paper money.

The introduction of the digital currency will help the country’s economy recover, the Central Bank is convinced.

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