CHACAO: The official exchange rate of Venezuela's bolivar went from 4.18 million to the US dollar overnight to just 4.18 as the impoverished country slashed six zeroes off its inflation-battered currency Friday (Saturday in Manila) to simplify transactions.
It is the third banknote reform in 13 years, with a staggering 14 zeroes shed since 2008 — giving Venezuela the dubious distinction of becoming the South American country to have lopped the most zeroes off its currency.
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