Viernes Rojo

[23] On 11 December 2016, President Nicolás Maduro wrote into law that the Bs.F 100 would be pulled from circulation within 72 hours because "mafias" were allegedly storing those particular notes to drive inflation.[32] President Maduro also announced that after the currency redenomination has carried out on 20 August 2018, old denominations with a face value of Bs.F 1,000 or higher will circulate in parallel with the new series of sovereign bolívar notes and will continue to be used for a limited time.[41] Given the excessive wage increases, the Maduro government will assume for the next 90 days the differential of the payroll of small and medium-sized enterprises for "that there is no impact on inflation".[1] The new fuel prices are transpired from sources of the oil industry and gas stations that the government is considering a gradual quarterly increase to reach Bs.S 0.90 per liter, that is, to Bs.F 90,000, when it costs Bs.S 6 (US$0.000002) currently.Stop telling stories: as of Monday, sell what you sell, set your prices in dollars at the exchange rate, not the day but the time" Economist JL Saboín García pointed out that "the Venezuelan economy faces the strongest macroeconomic adjustment in its history", calling President Maduro's economic reforms as "the Red Friday."[4] Asdrúbal Oliveros indicated that the announcements have no relation with El Gran Viraje or the Agenda Venezuela that "with their mistakes were much better structured plans regarding goals and policy instruments".[4] National Assembly deputy and economist José Guerra said that on the night of the announcements a "mega devaluation " was recorded, explaining that "the official exchange rate jumped in a day from Bs.F 240,000 (Bs.S 2.40) per US$1 to Bs.F 6,000,000 (Bs.S 60) per US$1.[46] On August 25, 2018, the National Superintendence for the Defense of Socioeconomic Rights (SUNDDE) reported that at least 200 people have been arrested and at least 500 businesses sanctioned for violating President Maduro's economic reforms.[49] The Wall Street Journal stated in March 2019 that the "main cause of hyperinflation is the central bank printing money to fund gaping public spending deficits", reporting that a teacher can buy a dozen eggs and two pounds of cheese with a month's wages.[53][54] By December 2018, four months after entry into circulation, the Bs.S 2 (about US$0.002 at that time), began being refused in shops and state banks, as its value has significantly declined since redenomination.[58] The Central Bank of Venezuela said in a statement that the introduction of the new banknotes will "make the payment system more efficient and facilitate commercial transactions.