Due To Hyperinflation Venezuela To Print 1,000,000-Bolivar Bills

Tres nuevos billetes serán incorporados al Cono Monetario vigente, como parte de la ampliación de la actual familia de especies monetarias.#BCV 🇻🇪 pic.twitter.com/HdUDbrrZ5F
— Banco Central de Venezuela (@BCV_ORG_VE) March 5, 2021

DW: Venezuela to introduce 1-million-bolivar bill

The Central Bank of Venezuela's new notes were launched as hyperinflation and US sanctions continue to cripple the economy of the oil-producing nation. As inflation skyrockets, the biggest bill is worth just 52 cents.

The Central Bank of Venezuela (BCV) announced Friday the introduction of three new banknotes: 200,000, 500,000 and one million bolivars.

But with inflation skyrocketing, the highest denominated bill has a value of just $0.52 cents (€0.44 cents), according to the official rate.

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WNU Editor: Venezuela's inflation rate in 2020 was 3,000% .... Venezuela reports 2020 inflation of 3,000 percent (AFP).

More News On Venezuela To Print 1,000,000-Bolivar Bills Amid Raging Inflation

You can now be a ‘millionaire’ in Venezuela for 50 cents -- NYPost

Struggling Venezuela introduces 1,000,000 Bolivar note – worth US$0.53 -- Bloomberg

Hyperinflation Pushes Venezuela to Print 1,000,000-Bolivar Bills -- Bloomberg

Venezuela to issue 1-million-bolivar bill, but it’s worth only 50 cents amid raging hyperinflation -- RT