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Country Profile - Venezuela


Venezuela, country located at the northern end of South America. Venezuela is bounded by the Caribbean Sea and the Atlantic Ocean to the north, Guyana to the east, Brazil to the south, and Colombia to the southwest and west.


General Information:

Capital: Caracas

Language: Spanish (official), numerous indigenous dialects

Religion: nominally Roman Catholic 96%, Protestant 2%, other 2%

Currency: Bolívar soberano and Petro

Cryptocurrency: The petro (₽), or petromoneda, launched in February 2018, is a cryptocurrency issued by the government of Venezuela backed by Venezuela’s reserves of oil, gasoline, gold, and diamonds.

GMT: (-) 4

In a bid to avoid economic sanctions imposed on Venezuela, Venezuela’s president launched a cryptocurrency backed by the nation’s oil, gasoline, gold and diamond reserves during December 2017. The president claimed that the digital currency, Petro (PTR), would allow the country to access “new forms of international financing.”

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