Venezuela Issues New Currency — The Sovereign Bolivar
It's part of Venezuelan President Nicolas Maduro's "formula" to help his country's economy.
Venezuela has issued a new currency to help with the country's massive inflation problem. It's called the sovereign bolivar and is worth 100,000 of the "old" bolivars.
After unveiling the new currency on Monday, Venezuelan President Nicolas Maduro called it a "historic economic change." Maduro announced the new currency almost a month ago.
The new currency has five fewer zeros than the previous bolivar. It's linked to Venezuela's recently launched petro cryptocurrency, which Maduro said back in July would help stabilize the country's economy.
The goal of the new currency is to simplify transactions.
As part of Maduro's "formula" to help his country's economy, he said last week he would also hike the country's minimum wage by 3,000 percent, up corporate tax rates and increase highly subsidized gas prices.
Additional reporting from Newsy affiliate CNN.
Colombia proposes shipping invasive hippos to India, Mexico
Scientists are warning that the hippos do not have a natural predator in Colombia and are a potential problem for biodiversity.
Mexican president says Tesla to build plant in Mexico
This would be Tesla's third plant outside the U.S., after one in Shanghai and one near Berlin.
Heinz locates man who survived on ketchup while stuck at sea
Heinz launched a social media campaign to help locate Elvis Francois after learning he survived on ketchup while stuck at sea for 24 days.
Migrants fearing deportation set fatal fire, Mexican president says
Officials confirmed more than three dozen people died in the fire.
Remote fitness classes are helping seniors in rural areas in U.S.
Due to the pandemic, a lot of health classes transitioned from in-person to remote delivery, improving access to better health outcomes.
Using improv comedy to gain new social and creative skills
Employees across the U.S. are using improv comedy as a tool for increasing their confidence and becoming more extroverted.