Venezuela To Issue Bigger Bills As Inflation Continues To Soar

DW: Venezuela to introduce bigger bills amid soaring inflation

Venezuela's central bank has said it will issue higher-denominated currency notes mid-December. The South American country is facing an acute economic crisis as its inflation is expected to surpass four digits next year.

Venezuela will introduce six new bills ranging from 500 to 20,000 bolivars, the OPEC nation's central bank said in a statement on Sunday.

Currently, the largest-denominated Venezuelan note is 100 bolivars (9.4 euros), which is worth just around two US cents on the black market. A two-liter soft drink bottle can cost 25 times that amount.

The socialist-run economy is on the verge of collapse as its currency has lost 67 percent of its value on the black market, falling to 4,587 bolivars per US dollar, according to Dollar Today, a tracking agency.

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WNU Editor: This is only a temporary measure .... the currency is worthless, and as long as the government continues to print money with nothing to back it up .... the collapse of the currency will only continue.

More News On Venezuela To Issue Bigger Bills In Response To Soaring Inflation

Venezuela issues new banknotes after inflation -- BBC
Venezuela to issue larger bill as currency continues to melt -- AP
Venezuela to Issue Bigger Bills This Month as Currency Plunges -- Bloomberg
Venezuela raising largest bank note from 100 bolivars to 20,000 amid inflation -- UPI
Venezuela to issue new bolivar banknotes after dramatic fall in value -- The Guardian/Reuters