The Latin American country Venezuela has decided to launch new notes. This is the first time that the country is releasing notes for the second time in a year. The Venezuelan Central Bank has announced that it will launch 10,000, 20,000 and 50,000 notes.
The Venezuelan government has banned all currency notes in the country in the last year. This was done to block smuggling. But this move has intensified the recession of notes. The inflation rate in the country in May is 8,15,000. 96% of the total income of the oil-rich country comes from the crude oil supply. But the crude oil production has lowered to 1.4 million barrel a day.
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