Venezuela to issue higher denominations soon?

The website DeInmediato reports that the Central Bank of Venezuela has ordered the printing of banknotes of 5,000, 10,000 and 20,000 bolivares. Because of the massive inflation in Venezuela (700% in 2016 according to the IMF) the people in Venezula are in demand of much higher denominations than currently available (the highest denomination is a 100-bolivares note at this moment). 

There have been rumours of higher denominations before so we'll have to wait if these new rumours prove to be true. The new notes should be available at the end of 2016.

Update 1 December 2016: new rumours from Bloomberg/Quint predict new notes of 500- and 5,000-bolivares to be issued mid-January and new denominations of 1,000-, 2,000-, 10,000- and 20,000-bolivares in the first half of 2017. We'll see...

Steven Sunday 30 October 2016 at 10:28 am | | news
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