Venezuela rolled out the design of its new currency, showing off bills with images ofnational heroes and wild animals with the official exchange rate fixed at 2,150 bolivars to USD 1.
The new currency, the "strong bolivar" is to begin circulating in January, simplifying denominations by lopping off three zeros from the current currency, the bolivar.
South American independence leader Simon Bolivar – the monetary unit's namesake - is pictured on the 100-denomination strong bolivar bill and 1 strong bolivar coin.
Each bill bears a different figure from Venezuelan history on the front, with rare or endangered animals pictured on the back, including the harpy eagle and the spectacled bear.
The Central Bank, which displayed images of the bills and coins at a news conference, said in a statement that the strong bolivar should "reinforce confidence" in the currency.
The official exchange rate is fixed at 2,150 bolivars to USD 1, but in black market trading the bolivar has been weakening against the dollar.
On Tuesday, it dipped to a new record, with USD 1 fetching more than 6,000.
The rate was hovering at a similar level on Wednesday, according to Veneconomia, a business publication that closely tracks trading in Venezuela.
Venezuela has had a fixed exchange rate since February 2003, when President Hugo Chavez imposed currency and price controls.
The government has said it is not considering a devaluation any time soon, and that rate of the strong bolivar will be fixed as 2.15 per dollar. - DDNEWS
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