Venezuela withdraws highest-value banknote
If a country is constantly making headlines regarding its money, it's usually not a good sign. The Central Bank of Venezuela is preparing for its new higher denominations to be issued from 15 December 2016, but in the mean time they're withdrawing the current highest denomination, the 100-bolivares note.
This move was needed to help stop criminal gangs profiteering on Venezuela’s border with Colombia, president Maduro said. Venezuelans have only 10 days to exchange their notes at the Central Bank. With the 100-bolivares being worth only 2 US cents one can question the effectiveness of this measure.
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