Colombia doubles value of largest banknote

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Central Bank of Colombia

The Central Bank of Colombia will introduce a 100,000 peso banknote in 2016 that will become the highest denomination note in its roster, as part of a wider new series.

Explaining its decision, the central bank notes its current largest denomination, 50,000 pesos, is worth less in US dollars ($16) than the largest value notes in some of its closest neighbours, singling out the largest notes in Chile ($21), Brazil ($28), Mexico ($60) and Peru ($62) among others.

The decision to issue a new note a

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