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Some Venezuelans worried Thursday about not knowing how they would pay for public transport and gasoline, now that President Nicolás Maduro has announced his intention to remove five zeros from the national currency, the bolívar , instead of the three originally planned.
![Mature secure note at meeting in Caracas
[Note de sécurité à une réunion à Caracas] 25/7/2018 Press Release](https://p2.trrsf.com/image/fget/cf/460/0/images.terra.com/2018/07/26/2018-07-26T193713Z_1_LYNXMPEE6P1U1_RTROPTP_3_VENEZUELA-MADURO-ZEROS.JPG "Maduro segura nota em reunião em Caracas 25/7/2018 Divulgação")
The so-called more aggressive renomination of the exchange rate is a reaction to Venezuela's hyperinflation which, according to the International Monetary Fund (IMF) will reach 1 million dollars this year. year, destroying wages and launching the already weakened economy of Venezuela. a member country of the Organization of the Petroleum Exporting Countries (OPEC) in a spiral even more pronounced downward.
With Maduro's announcement late on Wednesday night, people are trying to figure out there will be enough money to pay for public transit and gasoline – which is so subsidized that filling a tank costs less than $ 0.01 per black market exchange rate.
"How will I pay for transportation?" They charge me 60,000 bolivars. Five zeros less, that would be in cents, "said 55-year-old Griselda Osorio, while she was shopping in a market in Maracaibo, in western Colombia.
It's clear that the banks will be able to adjust their systems and their automated teller machines before the announced deadline of August 20 or when the new banknotes will arrive in Venezuela.
Maduro 's plan emphasizes the regression of. a once rich nation that has lost its currency. percent of value only in the last year due to the economic crisis.
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