Current Affairs - International - Discussion

Discussion Forum : International - Latest Current Affairs (Q.No. 5761)
5761.
Which of the following country has decided to eliminate 3 zeros from it's currency to counter the economics crisis?
North Korea
Russia
Pakistan
Venezuela
Answer: Option
Explanation:
Venezuelan President Nicolas Maduro has decided to eliminate three zeros off the country's inflation-ridden currency, the bolivar. This new monetary denomination, which replaces the one he established in January 2017, will help the government fight the "economic war of financial persecution". 500 bolivars, the new maximum denomination of the country's bills will amount to only $0.01.
Discussion:
1 comments Page 1 of 1.

Anomi said:   7 years ago
The financial principle behind eliminating 3 zeros and what could be the after effect of this action on the financial crisis?

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