Current Affairs - International - Discussion

Discussion Forum : International - Latest Current Affairs (Q.No. 5901)

2017-12-05 International

5901.

Which country has launched new virtual currency "Petro"?

South Africa

Japan

Venezuela

Indonesia

Answer: Option

Explanation:

Venezuelan President Nicolas Maduro launched a crypto-currency "Petro" to advance issues of monetary sovereignty, make financial transactions and overcome the financial blockade. Beside this, Petro will also circumvent US-led financial sanctions. The digital currency will be backed by Venezuelan reserves of gold, oil, gas and diamonds.