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Venezuelan banks lack new bills for currency revaluation

Venezuelan banks have still not received new bills that will be introduced as part of a monetary overhaul that will remove three zeros from the country's currency next week, Reuters reported May 29, citing two finance industry sources.

Besides a lack of new bills, local banks have also not had a chance to adjust cash machines for the change. Opposition legislator Jose Guerra called for the revaluation to be delayed, as "it's not possible to do it well."

President Nicolas Maduro in March said the bolivar currency would be redenominated on June 4. Government consumer protection agency Sundde warned businesses to take steps "so that the monetary conversion does not affect, slow or suspend customer service, payment or billing," the report added.