Updated By: LatestGKGS Desk
Venezuela bans 100 bolivar notes fight against corruption, mafia
South American country Venezuela bans 100 Bolivar note to fight against corruption and mafia
The President of the country took this decision as the financial stability of the country was not good.
The country is facing serious financial difficulties and has the highest inflation rate.
After the ban of 100 bolivar notes ‘mafia’ will greatly be affected of hoarding of such notes
After the ban of 100 bolivar note, people were given 10 days to change the money in exchange of coins.
The demonetisation of 100 bolivar notes aims to exclude illegal money from the economy.
In Venezuela, more than 6 billion notes of 100 are in circulation.
President Moduro came to know that 100 billion bolivar bank note is deposited by international mafia.
