Venezuela follows the same footprints of India as recently Indian government made a decision of demonetisation, Venezuela also followed the Sam approach to reduce inflation in the country and introduced new bank notes ranging from 500 to 20,000 bolivars. Venezuela's president Nicolás Maduro extended the deadline to exchange 100 Bolivar notes which are formally the highest denomination untill Feb 20. Venezuela is expected to reach 1600% inflation this year.
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