Hugo Chavez

Venezuela unveils 6 new bills amid galloping inflation

Venezuela has unveiled six new bills set to go into circulation next week.

Central Bank President Nelson Merentes said Tuesday the new higher-denomination bills would make commercial transactions easier in the country with the world's highest inflation.

The six new bills ranging from 500 to 20,000 Bolivars will begin circulating on Dec. 15.

Triple-digit inflation and a currency meltdown have left the country's largest note worth just around 2 U.S. cents on the black market. Currently the largest-denominated bill is 100 bolivars, not even enough to buy a piece of hard candy at a street kiosk.

Some had speculated that the new bills might feature late socialist...

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