Venezuela launches new currency

[DesertFox]

Venezuela is launching a new currency with the new year, lopping off three zeros from denominations in a bid to simplify finances and boost confidence in a money that has been losing value due to high inflation.

President Hugo Chavez's government says the new currency - dubbed the "strong bolivar" - will make daily transactions easier and cure some accounting headaches.

Officials also say it is part of a broader effort to contain rising prices and strengthen the economy.

"We're ending a historical cycle of ... instability in prices," Finance Minister Rodrigo Cabezas said, adding that the change aims to "recover a bolivar that has significant buying capacity."

More (http://ukpress.google.com/article/ALeqM5g-tS22Q0hc40TH9-PL9ZgSqIduSw)

[DesertFox]

Won't work if you don't change what you're doing that wrecked the original currency. Argentina has done this so often that they're running out of names to call their currency. Everywhere in Latin America that this has been tried, it has Ecuador's tried it. Peru's tried it. On and on.

[oldcoastie]

It is strong "bol" something.

[Beowulf]

Anyone wanna bet that Hugo's picture will be on every bill?

[ColonialMarine0431]

Didn't Pineapple Head also recently change the time zones ther by 1/2 an hour so they wouldn't match ours? This bozo is so delusional it boggles the mind. But the leftards an hollyweirdos love him.