As of press time, Venezuela’s inflation rate, expected to reach 720 percent by the end of 2016, had caused the country’s largest banknote, the 100-bolivar bill (VEF100), to have a value of only 5 US cents. This has caused a shortage of currency at banks and ATMs.
Venezuela has announced the creation of higher-denomination notes, set to start circulation in January 2017 and ranging in value from VEF500 to VEF20,000 (worth about 25¢ to $10, respectively).