Nowhere is inflation higher than in Venezuela. The central bank can't print the money fast enough. Venzuelan president Nicolás Maduro has taken emergency measures to print new banknotes in higher denominations.
A rural community and a Caracas slum have created their own currencies in response to Venezuela's rapid inflation. Proponents have pinned their hopes on these local-based alternatives, but critics say they aren't viable.
Venezuela plans to remove three zeros off its battered currency. The largest bill in circulation, the 100,000 note, can hardly buy a cup of coffee.
Venezuela has announced it is halting commercial relations with Panamanian officials and firms. The move comes after Panama said Venezuelan President Nicolas Maduro was considered at "high risk" for laundering money.
The new note unveiled by President Nicolas Maduro is meant to curb out-of-control inflation that has left the country reeling. Just one year ago, a 100 bolivar bill was the largest amount of cash on the market.
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