Venezuelan central bank to print high-denomination bills

According to The Wall Street Journal on 26 October 2016, sources close to the Banco Central de Venezuela (BCV) shared the bank will print higher denominations of bolívares by December 2016. The BCV plans to print new bills carrying a maximum value of 20,000 bolívares, worth US$20 on the black market. The largest bill currently in circulation is 100 bolívares, equivalent to US$0.08 on the black market (El Nacional). El Universal reported the BCV will mint a 1,000 bolívar coin in addition to bills worth 5,000, 10,000 and 20,000 bolívares. Soaring inflation, predicted by the International Monetary Fund to reach 700 percent in 2016, has forced Venezuelans to use large amounts of bills for everyday transactions (El Universal).