The pound plunged further against other currencies on Monday ahead of Prime Minister Theresa May's speech outlining the government's plans.
The president says the move to take the 100-Bolivar note out of circulation is to combat smuggling, but it has been strongly criticised.
The US dollar has been boosted by Donald Trump's election victory and spending plans, and political and economic worries in Europe, Britain and Japan.
Egypt has effectively devalued its currency by allowing it to trade freely, hoping to stabilising the economy and attracting foreign investment.
While post-Brexit woes are causing the pound to plummet in recent months, innovative Brits have found something better to do with their cash.
While the value of the British pound sterling has been on the decline over the last few weeks, some music-loving Brits have found an alternative use
The UK's services sector was strong in September adding to doubts about the need for another interest rate cut to cushion the Brexit vote impact.
Britain has introduced its first plastic currency with a new five pound banknote entering circulation featuring World War Two leader Winston Churchill.
As the eurozone struggles with weak growth and the threat of deflation, left-leaning economist and Nobel laureate Joseph Stiglitz told Euronews the currency bloc is doomed without radical changes.