Venezuela denies plans for Chavez banknote

The Central Bank of Venezuela (Banco Central de Venezuela) has denied that it has plans to issue new 500 bolívares banknotes with the portrait of late president Hugo Chávez.

Since the current highest denomination of 100 bolívares is only worth about $2.40 and considering the hyperinflation in the country there is a clear call for banknotes with higher denominations. The director of the Central Bank Armando Leon told the media (translation) there are also no plans to introduce a 200 bolívar note soon.