Hirunews Logo
Inflation-hit+Venezuela+to+pull+largest+bill+from+circulation
Monday, 12 December 2016 - 9:13
Inflation-hit Venezuela to pull largest bill from circulation
12,099

Views
Venezuela is pulling its largest current bank note out of circulation amid raging inflation.

President Nicolas Maduro announced Sunday that the 100-bolivar bill will be removed by Wednesday. The 100-bolivar note is worth about 2 cents and is the most widely used bill in the economically ravaged South American country.

The government has promised to begin rolling out six larger denomination bank notes in the coming days, ranging in value from 500 to 20,000 bolivars. Maduro says he is removing the 100-bolivar note to combat smuggling on the Colombian border.

The announcement quickly came under attack, with critics saying 72 hours is not nearly enough time to switch over to the new bills. Venezuelans already wait in hour-long lines to take out money at banks and ATMs.
Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
Sri Lanka hit by adverse weather
Thursday, 07 December 2017 - 15:17
Sri Lanka's weather pattern has changed a lot now.Experts say it is a result of climate change.Over the last few days, many parts of the island were affected... Read More
News Image
Hiru News Programme Segments
137 Views
6,353 Views
5,960 Views
13,631 Views
256 Views
7,865 Views
Top