New Delhi: 1 million bank note is coming soon in Venezuela. According to a report, Venezuela’s central bank has said that it will present a banknote of 1 million i.e. 10 lakh bolivars. In Indian currency, this note will be worth only about 39 rupees at present.
According to the report, there has been very high inflation in the South American country for many years. The new banknote will be only 52 US cents as per the current exchange rate. According to the central bank, internal inflation is 2,665 per cent.
The economy of the once prosperous OPEC country has been in crisis for the last seven years. The reason for this is the fall in oil prices, which has led to a decrease in imports. Along with this, the fiscal deficit has also increased, which has forced the central bank to print more bully. According to the report, the central bank said in a statement that these new bills will help the national economy.
Apart from the banknote of 10 lakh bulliver, the central bank said that it will also present banknote of two lakh and five lakh bulliver. At present, the bills of 10 thousand, 20 thousand and 50 thousand bulliver are in circulation.
