bolivar

The monetary measures announced by the Venezuelan government, as part of the Recovery, Growth and Economic Prosperity Program, went into effect Monday, as the circulation of the Sovereign Bolivar began around the country.
The new Venezuelan currency known as the Sovereign Bolivar, whose symbol is Bs.S., has five fewer zeros compared to the current Bolivar, which will coexist for retail operations or smaller amount.

As Venezuela tackles the problem of hyperinflation, the president, Nicolas Maduro, is arranging for the nation’s currency to be redenominated next month. Maduro states that the new bolivar will come out on the 20th of August and will be tied to the nation’s oil-backed cryptocurrency the petro.
Sputnik reports