The Central Bank of Venezuela has issued a new high value 100,000 bolivars banknote denomination, as part of efforts to ease the continuing cash crisis in the country.
A press release from the Banco Central de Venezuela, the country’s Central Bank, issued yesterday confirmed that the new banknote denomination will enter circulation this week.
The announcement was made by the President of the Republic, Nicolás Maduro, who advised that the additional high value banknote is a way to help the country’s economy continue to function efficiently during a period of hyper-inflation.
The 100,000 bolivar banknote is currently valued at around US $9,300, with the next highest banknote, the 20,000 bolivar, valued at around US $1,850. The new denomination will circulate alongside other denominations of the existing series, namely the 500, 1,000, 2,000, 5,000 and 10,000 bolivars.
The design of the new 100,000 bolivar banknote reportedly has a predominantly yellow colour scheme and features several elements also found in the 20,000 bolivar banknote denomination.
The main security element of the banknote is the holographic windowed security thread. Under UV light, the thread shows text which reads “BCV 100″. Other security features of the new note include a watermark, anti-scanner patterns, microtext, tactile features for the visually impaired, latent image, intaglio print features and fluorescent and magnetic features.
Images of the new 100,000 bolivar banknote to follow.