View Venezuela Currency Crisis Reason PNG. But for one group of people, they're proving very useful. A major currency overhaul in venezuela is due to come into effect monday, with critics of the move fearful it will exacerbate hyperinflation in the venezuela's massive currency devaluation is a 'scam' — and does 'nothing' to ease its economic crisis, analysts say.

5 reasons why you should care about the crisis in ... from cdn.cnn.com

In march, it also sanctioned the venezuelan gold mining industry, and in april, it also imposed sanctions against the central bank of venezuela, cutting off that institution's access to u.s. Crates holding 50,000 new banknotes have arrived in venezuela amid a currency crisis and growing social unrest. As venezuela staggers under political and economic crises, its citizens are embracing digital money.

A major currency overhaul comes into effect in venezuela on monday.

One dollar equaled 100 bolivars exactly. The plummeting oil prices since 2014 is one of the main reasons why venezuela's currency has weakened sharply. Published mon, aug 20 20186:04 am. A bunch of idiots want to stay in power.