- 13 декабря 2016, 18:45
- Marginal Revolution
Here is the background:
The Venezuelan government has announced it will remove the country’s highest-denomination banknote from circulation within 72 hours to combat contraband.
Central bank data suggests there are more than six billion 100-bolivar notes in circulation, making up almost half of all currency.
Venezuelans will have 10 days from Wednesday to exchange the notes for coins and new, higher-value bills.
President Nicolas Maduro said the move would stop gangs hoarding the notes.
Here is the fact:
Mr Maduro said on Sunday that the 100-bolivar note, worth about 2 US cents (£0.015) on the black market, would be taken out of circulation on Wednesday.
Emphasis added, and for the pointer I thank Philip Steinmeyer.
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