New 100,000-Bolivar Note Worth $2.42 (Now) Coming to Venezuela
- President says new denomination will stabilize monetary supply
- Maduro announces 30% minimum wage hike ahead of elections
Bolivar banknotes sit in a cash register in Venezuela
Photographer: Carlos Becerra/Bloomberg
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A Venezuela bolivar note worth $2.42 on the black market will begin circulating as early as Thursday, lightening the load for people who carry backpacks full of cash for their daily errands.
The 100,000-bolivar denomination, which will be the country’s largest, seeks to stabilize the cash supply, President Nicolas Maduro said on state television. He blamed Colombia President Juan Manuel Santos for the monetary “attack,” alluding to the black market trading of the bolivar on the countries’ shared border.