Venezuela finally announces higher denominations

There have been numerous rumours (uno, dos, tres) that the Central Bank of Venezuela would one day issue higher denomination banknotes to deal with its gigantic inflation. When people have to take bags full of banknotes to stores where the notes are being weighed instead of being counted, you know you have a problem.   

It seems the people of Venezuela can finally expect some relief because new notes are coming. You should be able to read about it in this press release, but unfortunately the website of the Central Bank is offline right now... That's not at all cause for panic right?

Anyway, the press release mentioned that we can expect 6 new denominations, starting from 15 December 2016 with a new 500-bolivares note. The other denominations will be: 1,000-, 2,000-, 5,000-, 10,000- and 20,000-bolivares. No news on the design yet.

Update 9-12-2016: has posted pictures of the new series.

Steven Tuesday 06 December 2016 at 9:51 pm | | news
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