Venezuela releases new banknotes, from 500 to 20,000 bolivars, amid heavy inflation

Venezuela releases new banknotes, from 500 to 20,000 bolivars, amid heavy inflation
The Venezuelan government has released new currency notes, valued between 500 and 20,000 bolivars, to replace the existing highest note of 100 bolivars, as the country has been haunted by heavy inflation for years.
Venezuela releases new banknotes, from 500 to 20,000 bolivars, amid heavy inflation

At the highest government exchange rate, 100 bolivars are worth less than 15 cents.
A piece of bread in Venezuela costs about 500 bolivars, according to CNN.
Exorbitant food prices and massive shortages of food and medicine have plagued Venezuelas for years, and the situation worsened in 2016.
According to the International Monetary Fund, inflation in Venezuela is expected to soar to 1,660% in 2017.
Venezuela releases new banknotes, from 500 to 20,000 bolivars, amid heavy inflation Venezuela releases new banknotes, from 500 to 20,000 bolivars, amid heavy inflation Reviewed by lawson james on January 17, 2017 Rating: 5

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