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Venezuelan President says country’s cryptocurrency will be traded for rubles

March 23, 8:34 UTC+3 MOSCOW

Venezuela’s new cryptocurrency called petro will be traded for several global currencies, including the Russian ruble

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MOSCOW, March 23. /TASS/. Venezuela’s new cryptocurrency called petro will be traded for several global currencies, including the Russian ruble, President Nicolas Maduro said on Thursday.

"Starting March 23, all legal and physical entities will be able to purchase the petro directly… within the next 15 days for convertible currencies: yuan, rubles, Turkish liras and euros," he said, adding that those are the most important currencies that will be present "in the economic future of the planet."

Venezuela officially opened sales of the national cryptocurrency on February 20. The cost of one petro is equal to the cost of oil produced in the country. According to Maduro, investors from over 100 countries have expressed interest to purchases of the first Venezuelan digital currency worth more than $5 bln.

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