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Venezuela pulls highest-value banknote 'to strike against mafia'


TOM_BHAYYA

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The Venezuelan government has announced it will remove the country's highest-denomination banknote from circulation within 72 hours to combat contraband.

Central bank data suggests there are more than six billion 100-bolivar notes in circulation, making up almost half of all currency.Venezuelans will have 10 days from Wednesday to exchange the notes for coins and new, higher-value bills.

President Nicolas Maduro said the move would stop gangs hoarding the notes.

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