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IPFS News Link • Venezuela

Venezuela's PDVSA To Start Using 'El Petro' Next Week

•, by Irina Slav

Yet the shift to a cryptocurrency in all of PDVSA's business dealings is only part of a much bigger monetary overhaul.

From August 20, the petro will begin to be used in parallel with the national currency the bolivar, and its prices will be pegged to that of the bolivar. Maduro said that the central bank will start issuing daily exchange rates for the two as well.