Venezuela scraps largest banknote, gives 10 days to exchange
Venezuela has demonetised its largest 100-bolivar note giving citizens 10 days to exchange the bills, while the country suffers from world's highest annual inflation, estimated at 500%. The move has been initiated to combat smuggling of bills at the Venezuelan-Colombian border. Notably, there are over 600 crore such notes (48% of all currency), being exchanged at $0.02 in black markets.