New higher-denomination bills are on the menu for a currency overhaul scheduled to go into effect in 2010.

The printing of ¢20,000 and ¢50,000 bills is only part of a paper money revamp that will also include an art redesign, a change in size and possibly change in material, from cotton paper to plastic, said Ricardo Rodríguez, treasury director for the Central Bank.

Rodríguez said the bank has decided to release the higher denomination bills to achieve a �more equal distribution� of money. Right now, 70% of cash circulating is in ¢10,000 bills.

In addition to including beefier nominations, Rodríguez said the new series of bills will vary in length to make them recognizable to the blind.

Banco Central de Venezuela (B.C.V.) put into circulation new coins of different denominations such as: 1,5,10, 12 ½, 25, 50 centavos and 1 Bolívar Fuerte. The one and five cents are in red, the rest of the denominations in gray and the unit is a bi-metallic coin.

Also, B.C.V. put into circulation new bank notes of different denominations such as: 2, 5, 10, 20, 50 and 100 Bolívares Fuerte. All of them were issued by Casa de la Moneda de Venezuela and going to replace the old denominations of 1,000; 2,000; 5,000; 10,000; 20,000 and 50,000 Bolívares.

The vertical design is the must significant graphic element incorporated on face. For example, on Bs F. 2 is Gen. Miranda on blue on face. On back is ‘gusano flor’ and Coro Dunes. On Bs. F. 5 is Lt. Pedro Camejo, better known as “Negro Primero” on ochre. On back is a scenic view of the Venezuelan plains and the “cachicamo” (armadillo). On Bs. F. 10 is the Indian Chief Guaicaipuro on terra-cotta. On back is the ‘Aguila Arpia’ (Arpia Eagle) and the Ucaima Falls in Canaima National Park. On Bs. F. 20 is Luisa Caceres de Arismendi, a heroine of the independence, on pink. On back is the Carey Turtle and the Macanao Mountains in the Margarita Island. On Bs. F. 50 is Don Simón Rodriguez on green. On back is a “Oso frontino” (Black Bear) and Santo Cristo Lake in Merida state. Finally, on Bs. F 100 is the Liberator Simón Bolívar on brown. On back is the national bird, the Cardenal and a scenic view of “Cerro Avila” (Avila Peak).

The new family of Venezuelan notes represents the ‘nationality and ethnicity origins’ such as: Guaicaipuro (Indian Chief); Pedro Camejo (Black) and Luisa Caceres (the first woman on Venezuelan paper money) and also, the ‘biodiversity which is in danger of extinction’ according to the president of Banco Central, Gaston Parra.

There are a couple of bank notes such as 200 Bolívares Fuerte will be Gran Mariscal Antonio J. de Sucre and probably 500 Bolívares Fuerte, the famous patriot and writer Rafael María Baralt, which will not circulate yet. The new coat of arms (white horse running to the left) appears on all denominations on back.

Also, I would like to share with you a brief biographies that I found about very important people in Venezuela’s history such as: Gen. Francisco de Miranda, Lt. Pedro Camejo, Indian Chief Guaicaipuro, Luisa Caceres de Arismendi, Don Simón Rodriguez, the Liberator Simon Bolivar and Marshall Antonio J. de Sucre.

Venezuela will begin 2008 with a new currency, the strong Bolivar, which will take three zeros off the current Bolivar.

The new currency begins circulating on January 1 and the population will have six months to change over before the old currency loses its value. The equivalent of US$ 1, currently 2,150 Bolivars, will now become 2.15 strong Bolivars.

A week before the new currency goes into circulation, the Central Bank of Venezuela (CBV) continues dispensing the new money to regional distribution centers and from there to the different banks, said CBV Director Armando Leon.

According to the Central Bank of Venezuela (CBV), 200 million bills of the Strong Bolivar have been distributed and will enter into circulation on January 1.

The population will have six months to change over before the old currency loses its value. The equivalent of US$ 1, currently 2,150 Bolivars, will now become 2.15 strong Bolivars, reported Granma newspaper.

A week before the new currency goes into circulation, the CBV continues dispensing the new money to regional distribution centers and from there to the different banks, said CBV Director Armando Leon.