Brazil plans new note as cash demand hits record high
Central bank will introduce 200 real banknote as Brazilians start to hoard cash
The Central Bank of Brazil will print a new high-denomination banknote in response to an increase in cash demand during the Covid-19 pandemic.
Production of the first 200 real banknote ($38) will begin later this month. Around 450 million will enter circulation later this year, the central bank says in a statement.
“The launch of a higher-denomination banknote was considered to meet the increased demand for cash that has been occurring during the Covid-19 pandemic,” Felipe Beer Frenkel, head
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