Venezuela will introduce six new notes and three new coins starting in mid-December to help alleviate practical problems in doing business with the world’s most inflationary currency, according to the central bank.

Currently, the OPEC nation’s largest note is worth just 2 U.S. cents on the black market, meaning cash transactions are extremely cumbersome.

Read the Full Article: Source – Reuters
Time For Truth: (Reuters) – Venezuela confirms bigger bills amid world's highest inflation

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Major banks have formally told clients to expect volatile currency markets in the aftermath of Tuesday’s U.S. presidential election, with the gap between buying and selling prices that determines the cost of trading expected to widen sharply if Donald Trump were to win.

The warnings issued by the electronic trading platforms run by the market’s largest player Citi and rivals Barclays and Goldman Sachs, seen by clients of the banks, have over the past two years become standard ‘red flags’ ahead of big political and economic set-pieces.

Read the Full Article: Source – Daily Mail
Time For Truth: (Daily Mail) – Banks warn clients to brace for FX volatility after U.S. vote

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The last time sterling fell off a cliff we were in the midst of global financial crisis from 2007 to 2008. The currency shock sent inflation shooting up to 5.2pc, abruptly squeezing on real living standards.

On that occasion the poor were at least protected. Benefits and in-work tax credits were indexed to inflation. Social cohesion was preserved.

Read the Full Article: Source – The Telegraph
Time For Truth: (The Telegraph) – Inflation: next year's ticking time bomb

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