¿What will happen in Venezuela after this monetary reconversion?

On Monday, August 20, the monetary reconversion that subtracts five zeros from the current monetary cone and requires changes by the banking sector for the adaptation of the financial system takes effect. The banks’ sources revealed that the financial institutions already have the coins and notes of the new monetary cone. However, it is not known how much they will dispense at ticket offices and ATMs, which will be topped up with Bs.S 2, Bs.S 5 and Bs.S 10 notes. The public banking agencies are counting on a remittance of Bs.S 100,000 to begin its service to the public next Tuesday, since Monday is a bank holiday.



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