ECB scrapping 500-euro banknotes
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Frankfurt
THE European Central Bank on Wednesday said it would stop producing and issuing 500-euro banknotes, amid fears that the violet-coloured bills were favoured by criminals for money laundering and even terrorist financing.
The bank is to stop issuing the 500-euro bills (S$775) around the end of 2018 although those currently in circulation will remain legal tender.
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