Venezuela has placed a cap on daily bank withdrawals at VEF $10,000, or US $5.26. The country’s financial services sector regulator Sudeban, or the Superintendency of Banking Sector Institutions, ordered public and private banks to refrain from paying out more than this amount per day in cash from offices or ATMs. According to a statement released by Sudeban, users can make a maximum of four transactions per day to withdraw up to $5. The decision has been taken as Venezuela suffers from rampant inflation exceeding 750%, which has forced many citizens to handle more cash for their purchases. The delivery of bank notes to various public and private banking agencies has reportedly fallen by an average of 50 percent in the last month. According to sources linked to the Central Bank of Venezuela, the new banknotes will enter into circulation on 15 December 15, but will do so through a gradual process
