The Central Bank of Venezuela (BCV) has issued an appeal to Venezuelan citizens to take their "old bolivar" banknotes to the local branches of state-owned and private banks to exchange them for the new Bolivar Fuerte (Strong Bolivar) which came into force earlier this year.
Seven coins and six banknotes make up the new "family" of strong bolivares currently in circulation. Their face value is precisely one thousandth that of "old bolivares" which will soon be withdrawn completely from circulation and no longer be used as legal tender.
The government has guaranteed to exchange "old" currencies in 1, 2, 5, 10, 20, 50, 100 and 500 bolivar denominations even if they are damaged but have not lost their serial numbers or signatures of the issuing authorities.
Central Bank officials reccomend businesses and services to only issue change in the new "strong" denominations to allow for a progressive withdrawal of the old.
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