In response to a complaint from a person who had been denied a $20 note issued in 1996, financial and legal experts were consulted in 2001 to find out whether the date of issuance would invalidate the note’s validity.
Economist Luis Oliveros said the rejection of physical dollars “has been happening in Venezuela for a long time.”
He said there is no legislation, no legal parameters that force merchants or holders of US currency to adhere to certain parameters.
In his opinion, Venezuela is the only country in the world that “does a very delicate job of receiving banknotes.” The banknotes must be perfect, almost ironed, and without any stains to receive them.
“The only real reason a banknote is invalid is if it is counterfeit or if it is so damaged that its face value cannot be seen,” he said.
He insists that because valuations are informal, without anything written, and that virtually every business can choose to accept or not accept North American currency, “they have norms or rules in place for accepting bills.”
He advises those who have severely damaged dollar bills or dollar bills that may not meet commercial requirements to go to a bank and deposit them into a dollar account and use a debit card.
The date of issuance does not invalidate a U.S. dollar bill
“There is no issue date that cancels a ticket’s validity, meaning any ticket can be paid anywhere in the United States,” Oliveros said.
To read the full note, here