Published On: Mon, Mar 19th, 2018

Venezuela town introduces new currency

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A town in the Venezuelan government, the Latin American government which is mired in the economic crisis, has introduced a new currency to overcome the financial crisis.

In this juncture of the year, it is the beginning of the festival season in the majority of the cities across the country.

Elorza, which has introduced the currency, believes that the shortage of bolivares, the country’s official currency, would affect the local business which usually witnesses a boom during the festival season.

As per the official notification published, the new currency can be brought from the mayor’s office.

Elorza is situated in the western part of the country. In this part of the country, the circulation of Bolivares is almost scarce.

Local people, particularly those who aim to gain some fortunes from the festival business, has welcomed the move implemented by the town administrators.

Venezuela is one of the countries which are experiencing a serious economic crisis. The country, which is going to witness an election in the near future, has tried to sell among its people the assumption that the western sanctions, intended to punish the communist regime, are the prime reason behind the miseries experienced by the people of the communist country.

 

Vignesh. S. G

Photo Courtesy: Google/ images are subject to copyright 

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Venezuela town introduces new currency