<p>Venezuela says it will make a million-to-1 change in its currency soon, eliminating six zeros from prices in the local currency as hyperinflation continues to plague the troubled South American nation.</p>.<p>Venezuela's central bank on Thursday announced the change to the bolivar will go into effect October 1.</p>.<p>The new 100 bolivar bill will be the highest denomination. It is equivalent to 100,000,000 of the current bolivar.</p>.<p>This is the third adjustment since socialist leaders began governing Venezuela. The bolivar lost three zeros in 2008 under now-deceased President Hugo Chavez, while his successor, Nicolas Maduro, eliminated five zeros in 2018.</p>.<p>Venezuela is in its sixth year of recession. Millions live in poverty amid high food prices that are commonly set in US dollars and low wages.</p>.<p>The 1 million bolivar bill is currently the highest denomination, but it is scarce. More than seven of those bills are needed to buy a 1.3-gallon (5-litre) bottle of water, which cost 7.4 million bolivars or $1.84 dollars on Thursday. </p>
<p>Venezuela says it will make a million-to-1 change in its currency soon, eliminating six zeros from prices in the local currency as hyperinflation continues to plague the troubled South American nation.</p>.<p>Venezuela's central bank on Thursday announced the change to the bolivar will go into effect October 1.</p>.<p>The new 100 bolivar bill will be the highest denomination. It is equivalent to 100,000,000 of the current bolivar.</p>.<p>This is the third adjustment since socialist leaders began governing Venezuela. The bolivar lost three zeros in 2008 under now-deceased President Hugo Chavez, while his successor, Nicolas Maduro, eliminated five zeros in 2018.</p>.<p>Venezuela is in its sixth year of recession. Millions live in poverty amid high food prices that are commonly set in US dollars and low wages.</p>.<p>The 1 million bolivar bill is currently the highest denomination, but it is scarce. More than seven of those bills are needed to buy a 1.3-gallon (5-litre) bottle of water, which cost 7.4 million bolivars or $1.84 dollars on Thursday. </p>