The town of Elorza in western Venezuela has started issuing its own paper currency due to an acute national shortage of banknotes


Venezuela's economic troubles do not seem to show any signs of abating as a town in the country issues its own currency.

The paper bills depict the face of independence hero José Andrés Elorza and, like the town, are named after him.



Presently, the new currency can be bought at the mayor's office via bank transfer.

Local officials insist that the currency would make it easier for residents and visitors to trade during the town's festivities, which start on Monday.

Explaining why the move became necessary, they said rampant hyperinflation and a scarcity of bolivares, the national currency, had affected trade in Elorza.