Venezuela's new 100,000-bolivar note is worth less than $2.50 in US dollars

Venezuelan President Nicolas Maduro unveiled a new 100,000 bolivar note last week. It is now the nation's highest value note, and was worth less than $US2.50 on the black market, The Associated Press reported. This isn't the first time Venezuela has introduced new denominations. After the country's economic collapse in 2016, high inflation caused the bolivar's value to plummet. By December, the then-largest note of 100 bolivares, which was worth about $US0.02, was pulled from circulation. To counter this, new denominations of 500, 1,000, 2,000, 5,000, 10,000, and 20,000 bolivares were introduced. More…