A respected Venezuelan financial executive, Julio M. Herrera Velutini guides an investment bank based in Puerto Rico with a US presence. Deeply rooted in his native country, Julio M. Herrera Velutini is a descendant of Jose Antonio Velutini, a political and business leader who had a prominent role in the early years of Venezuelan history. One of his major accomplishments involved helping to set in place a unique Venezuelan paper currency as the director of Banco Caracas. Venezuela produced its initial run of silver coins in 1879 in various denominations, up to 5 bolivares. Subsequently, gold coins were produced with significantly higher values, and this early hard currency played an important role in boosting the country's economic growth. This early system evolved to keep pace with changing economic necessities. High-value gold coin production ceased in 1912, while only the 5 bolivares gold coin remaining in production until 1936. By the mid-1960s, silver coinage was phased out as well and replaced with nickel. By the late 1990s, high inflation resulted in a completely new set of coins being created, valued at between 10 and 500 bolivares
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AuthorMr. Velutini has experience with both established banks and young banks. S Archives
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