Brazil plans new note as cash demand hits record high

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Central Bank of Brazil

The Central Bank of Brazil will print a new high-denomination banknote in response to an increase in cash demand during the Covid-19 pandemic.

Production of the first 200 real banknote ($38) will begin later this month. Around 450 million will enter circulation later this year, the central bank says in a statement.

“The launch of a higher-denomination banknote was considered to meet the increased demand for cash that has been occurring during the Covid-19 pandemic,” Felipe Beer Frenkel, head

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