The Latin American country Venezuela is currently in the global headlines for two reasons. First, its opposition leader Maria Corina Machado has been awarded the Nobel Peace Prize 2025 and second, the country’s currency system is being counted among the most extreme economic examples in the world.

According to the Nobel Committee, Machado has been given this award for promoting democratic rights and peaceful transition from dictatorial rule. For many years he raised his voice against government pressure and struggled to protect civil liberties.

Venezuela included in the world’s most expensive currency

Political instability and economic crisis have badly affected the Venezuelan economy. Hyperinflation increased so much in the country that the government had to print the largest currency note in history. In October 2021, Venezuela issued a note of 1 lakh Bolivar (100,000 Bolivar), which is among the highest value notes in the world. The value of this note in Indian Rupees is approximately ₹ 3,15,65,72,917 (more than three billion fifteen crore rupees), but the surprising thing is that despite such a huge value, the purchasing power of this note is very low, that is, even with such a big note, only some essential everyday things can be purchased. Apart from this, at present the value of one rupee Indian currency is Rs 2 lakh 17 thousand 474.

Why did such a big note have to be printed?

After 2014, the fall in oil prices, economic crisis and political instability weakened the Venezuelan currency rapidly. The government considered the solution to this to be printing new and higher denomination notes, but this increased inflation further. Within no time, the currency that started at 10 bolivars turned into notes worth millions and ordinary citizens had to carry bags of notes even for a small purchase. Economists call this an extreme example of hyperinflation, where the real value of a currency drops to mere paper value.

Which has been the largest note in India?

The largest circulating note in India at present is ₹500. However, the ₹2000 note was issued in 2016, which was withdrawn in 2023. Not many people know that the Reserve Bank of India had also issued a ₹10,000 note in history – first in 1938 and second in 1954. It was demonetized twice in 1946 and 1978. Today this note exists only in the form of collection.

₹5000 note still in circulation in Pakistan

In the neighboring country Pakistan, the largest note is of ₹ 5000 Pakistani rupees. This note was issued in 2005 and is still in circulation. Although Pakistan is also facing rapidly increasing inflation, but the government has not yet issued a new note of higher value than this.

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yuan For Russian Oil: The crude oil being purchased by India from Russia is now being paid in Chinese currency ‘Yuan’ instead of US dollars. This move may prove to be an uncomfortable news for US President Donald Trump, especially when he has repeatedly criticized the imposition of high tariffs on India and the common currency plan of the BRICS countries.

According to a report by news agency Reuters, Indian refiners buying oil from Russia were asked by Russian suppliers (traders) to pay for recent shipments in yuan instead of US dollars or UAE dirhams.

Trump’s anxiety will increase!

The report quoted sources as saying that Indian Oil Corporation (IOC) — the country’s largest state-owned oil company — has paid for at least two or three Russian oil shipments in yuan.

Traditionally, international oil prices have always been paid in US dollars. But due to Western sanctions on Russia and the complexities of the ruble payment system, the need for an alternative currency is now being felt. In this situation, paying in yuan has become a more convenient option.

Why did the use of yuan increase?

This is not the first time that India has paid for oil purchases in yuan. Even in the year 2023, Indian government companies had paid for some shipments in yuan. However, that practice was banned after tensions increased in India-China relations.

Now, latest developments indicate that India has partially reinstated the permission for payments in Yuan. Private oil companies were already paying in yuan, but now with the involvement of state refiners, this change is considered important for both the international trade balance and the global holding of the US dollar.

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Yuan falls to 2007 lows: Amidst the Global Tariff War, US President Donald Trump put a brake on the rest of the world for 90 days on the tariff for 90 days, while on the other hand, the tariff over China was increased from 104% to 125%. This trade war between the US and China had a very bad effect on the currency market. This move of America is seen to be the power of China. China’s currency yuan reached the lowest level of 17 years on Wednesday.

Yuan reached 7.3498 against the dollar, which is the biggest decline since December 2007. Sources aware of the entire case told the news agency Reuters that the top leaders of China plans to hold a meeting on this entire issue as soon as possible, so that the next steps can be taken from which the economy and the capital market can be promoted.

The source, who is aware of this entire matter, further told the Reuters that despite the tariff pressure of America, the Central Bank of China will not let its currency yuan fall so much. In such a situation, it has been told to all the public sector banks of the country to minimize the purchase of US dollars.

Chinese expert said that until the high -rate tariff is withdrawn from the US, it will mean that China’s export to America will be halved. This will directly affect China’s GDP, unless the export of China is done to another country. Earlier, in the last season, the Yuan had fallen by 1% in the Asian market to a record low of a record 7.4288.

Here, the US stock market was shocked by the announcement of a break on tariffs for 90 days on the rest of the world except China from America. According to Bloomberg report, S&P closed at the upper level of 9.5 percent while Nasdaq climbed 12% to gaining 100 points. Along with this, Dow Jones Industrial Average saw a jump of about 7.9 percent. About 30 billion shares were traded in a day, which is a one -day record figure.

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