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The Chip Board Archive 25

Venezuela devalues currency -- chips affected?

With the out-of-control inflation in Venezuela, their currency will be devalued (re-valued) as of Monday morning. They are shaving 5 zeros off the old currency vs. new currency, such that 100,000 "old" bolivars = 1 "new" bolivar.

You can read about it on Wikipedia and elsewhere. Old denomination is abbreviated Bs.F ... new denomination is Bs.S

According to Chip Guide, there are 6 open casinos in Venezuela, though I don't know if that's accurate. Some / all may be closed now.

The low value chips will only be worth a fraction in the new currency. Even the 1 million value chip below (pic from Chip Guide) will be worth only 10 "new" Bolivars.

If any casinos are still open, they will need to over-stamp their chips and/or order new ones! (But since their people are starving and running out of toilet paper and other necessities, gambling at a casino is far down the priority list right now.) Let's hope this suffering can be resolved soon.

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Venezuela devalues currency -- chips affected?
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