In Venezuela, announced the issuance of large banknotes on the background of devaluation of Bolivar

В Венесуэле объявили о выпуске крупных купюр на фоне обесценивания боливара

Venezuela will introduce soon in circulation new banknotes of 500 and 5 thousand bolivars, said Friday President Nicolas Maduro.

On this measure the government is against the backdrop of the worsening economic crisis, which began after the fall in world oil prices and serious inflation of the Bolivar on the black market. Despite the relatively stable official rates to the dollar (663 Bolivar in the system of exchange DICOM), illegal moneychangers offer for the us currency is over 4 thousand bolivars. While the largest denomination in Venezuela are still 100 bolivars.

“There will be several million tickets, 500 bolivars, and then the turnover will include several million tickets on 5 thousand bolívares”, — quotes the official portal of the Ministry of communications and information of Venezuela Maduro statement.

According to the head of the state in the near future the Central Bank of Venezuela will issue a formal clarification on this issue.

In just a week the dollar on the black market of Caracas, according to Dolar Today, failed on a 51%: November 25, it amounted to 2.9 thousand bolivars, and on December 2 – is already of 4.4 thousand.

The situation in Venezuela, which is South America’s largest oil exporter, has become critical against the background of shortages, galloping inflation and falling government revenues due to lower oil prices, as well as the institutional crisis between the Executive and legislative branches of government.

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