As of August 20, with the entry into force of the monetary reconversion, the pieces of the current monetary cone with denomination equal to and greater than one thousand bolivars (Bs 1,000) will co-operate with the Sovereign Bolivar. This was stated on Tuesday, August 14, the president of the Central Bank of Venezuela (BCV), Calixto Ortega Sánchez, in statements offered to Venezolana de Televisión.
The owner of the issuing body explained that from the Bs.1,000, to Bs. 100,000, of the current family of banknotes will continue in circulation, as happened during the reconversion process that took place between 2007 and 2008 in the country. .
The joint decision of the issuing entity and the National Executive, has the purpose of facilitating the so-called “retail” and the realization of exact payments. “If a product costs 5 million 10 thousand bolivars, it will cost 50 sovereign bolivars with 10 cents; and it can be paid with a 50 sovereign bolivars bill and a current 10 thousand bolivares bill, “exemplified Ortega.
Banknotes of one thousand (1,000), 2 thousand (2,000), 5 thousand (5,000), 10 thousand (10,000), 20 (20,000) thousand and 100 thousand (100,000) bolivars, of the current monetary cone, are those that coexist with the Sovereign Bolivar.
Pieces less than Bs. 1,000 may be deposited in the bank
The head of the issuing institute clarified that after August 20, the pieces of the current monetary cone with a denomination of less than one thousand (1,000) bolivars may be deposited in the banking institutions.
“The notes and coins belonging to the current monetary cone, with denominations lower than 1,000 bolivars, may be deposited with the banking institutions, from August 20 until the date determined by the BCV Board of Directors,” explained Ortega Sánchez.