Venezuela to swap highest denomination banknotes for coins

  |   World News

The Venezuelan government has announced that it will replace the country's highest-denomination banknotes with coins within 72 hours.

"I have given the orders to close all land, maritime and air possibilities so those bills taken out can't be returned and they're stuck with their fraud abroad," said Mr Maduro on television.

The government last published figures for inflation in December 2015, putting it at 180%, but the International Monetary Fund (IMF) estimates that next year's prices will rise by more than 2,000%.

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