A million bolivars become one as Venezuela recalibrates battered currency

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For the third time in 13 years, Venezuela on Friday will slash zeros off its inflation-battered currency, the bolivar. This time, it will shed six zeros, for a total of 14 since 2008.With that, a million bolivars will overnight become one – still the equivalent of about US$0.25.Venezuela’s central bank announced the move last month to simplify transactions, with consumers scrambling to make payment for even the most basic goods or services.Seven 1-million bolivar notes – the highest…

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