Venezuelan central bank will issue bigger denomination notes of 500 bolivars and 5000 bolivars to cope with lack of liquidity and bursting inflation.

President Nicolas Maduro said on Friday released that millions of those new notes would enter circulation very soon.

That came after putting a cap on daily bank withdrawals at 10,000 bolivars.

The country is weary by a fallen currency, its largest note worth just 2 U.S. cents on the black market.

100 bolivar note which is the biggest note in the country does not allow buying more than a piece of candy in the current situation.

So the issuing of 500 and 5000 bolivar notes will only bring a short break amid rapid money printing and weakening currency as 5000 bolivars today can just buy over $1 on the black market.

As a result, people often carry backpacks full of bills.

Venezuela is facing severe lack of liquidity for a week, which causes banks and cash machines to run dry of the long queues.

It is believed that Venezuela has the world’s highest inflation. The IMF said that inflation would reach 475 % this year and 1660% by 2017.

Money supply rose 12 percent in the last two weeks while the bolivar weakened 65 percent in the last month.

The country struggles with a huge economic crisis mainly because the decline of oil prices, oil revenue was 96% of the country’s hard currency.

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