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May 20, 2016

Swiss defend huge 1,000-franc note

GENEVA (AP) — The eurozone is scrapping its 500-euro ($564) note out of concern over its popularity with money launderers. But Switzerland is making clear that it sees no need to kill off its own 1,000-franc bill — currently worth $1,018.

In a reply published Thursday to questions from center-left lawmaker Margret Kiener Nellen, the government said authorities know of no money laundering cases in which the huge bill was a relevant factor.


 
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