Venezuela launches new higher-denomination banknote
Banknote worth $2.50 enters circulation as estimated inflation exceeds 2,500%
A new higher denomination banknote has been launched by Venezuelan’s president in the face of inflation that is crippling the nation.
On November 1, Nicolas Maduro announced a 100,000 bolivar (worth around $2.50 at the black market rate, or $30 at the official rate) would enter circulation this week.
The launch of the new banknote comes less than a year after the central bank removed the largest denomination from circulation. The central bank cited money laundering concerns as the reason for
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