Venezuela city issues own currency to combat national cash crisis

SAN CRISTOBAL: A western Venezuelan city began to issue its own currency this week to alleviate the hyper-inflationary country's cash crisis. The"Elorza"currency, with bills featuring the face of local independence leader Jose Andres Elorza, will be valid in the city of Elorza, near Venezuela's border with Colombia. The bills are being sold in the municipality's offices to ensure that thousands of tourists and residents can trade, said mayor Solfreddy Solorzano, a member of the ruling Socialist Party. Venezuela's national currency, the bolivar, has plummeted in recent years amid a crippling economic crisis. (Reuters)