bank notes: I have taken the decision to close the border with Colombia for 72 hours, the leftist leader said in a nationally televised address, according to Deutsche Welle. Earlier on Monday, supporters of Maduro socialist party circulated drawings on social media of criminals trying to smuggle cash into Venezuela like drugs. The measure is part of crackdown on what Maduro was described as mafias who he accuses of conspiring to destabilize his country economy by hoarding bank notes. The president announcement came just a day after he signed an emergency decree to pull the largest bank note from circulation because of what he called a US-backed plot against Venezuela troubled economy. In the wake of the 100-bolivar note demise, six bank notes worth between 500 and 20,000 bolivars will be made available, and three new coins. The 100-bolivar bill is currently worth around just 3 US cents at the widely used black market rate.
(news.financializer.com). As
reported in the news.
Tagged under bank notes, country economy topics.