Current Affairs - International - Discussion

The Venezuelan government announced that it will issue new banknotes due to racketing hyperinflation which eroded the currency's value. The central bank of Venezuela will release new Banknotes of 10,000, 20,000 and 50,000 bolivar denominations.The highest bill in circulation was 500 bolivar note before the announcement.The largest denominations banknotes of 50,000 bolivars are worth about Rs.560 ($8) which is more than the minimum wage of 40,000 bolivars.