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March 28
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The authorities of Venezuela issued new larger denomination banknotes in response to the country's soaring rate of inflation.

The three notes, ranging from 500 to 20,000-bolivars, have entered circulation, BBC reported.

Inflation in Venezuela is forecast to reach 1,600% in 2017.

The new 20,000-bolivar note is still worth less than $6 on the black market.

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