Venezuela removes largest banknote amid contraband concerns

Nicolás Maduro
President of Venezuela, Nicolas Maduro. Photo: Joka Madruga
Joka Madruga

The government of Venezuela has begun withdrawing its largest denomination note from circulation, as part of a series of measures it says will tackle contraband.

President Nicholas Maduro announced on December 11 all 100 bolivar notes would be removed by December 15, when a new, higher-denominated series is set to enter circulation. People will have 10 days to exchange the notes at the central bank, he added.

Maduro said the removal of the notes, which currently fetch just $0.02 on the black

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