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.

Steven Tuesday 13 December 2016 at 08:36 am | | news
Used tags: ,
These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Google
  • Reddit
  • StumbleUpon
  • Twitter

No comments

(optional field)
(optional field)
To prove you're not a robot, answer this simple question.

Comment moderation is enabled on this site. This means that your comment will not be visible until it has been approved by an editor.

Remember personal info?
Small print: All html tags except <b> and <i> will be removed from your comment. You can make links by just typing the url or mail-address.