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.
These new notes will circulate alongside the 10,000-, 20,000-, and 50,000-bolivar bills currently in use.
But even the highest valued is worth only about $0.02 cents at current exchange rates. The new bills began to be circulated from 08 March 2021.
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