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| Venezuela's 100-bolivar note withdrawal causes chaos | Venezuela's 100-bolivar note withdrawal causes chaos |
| (about 9 hours later) | |
| Venezuela's highest denomination banknote has ceased to be legal tender, in a move that has caused cash chaos and long queues at banks this week. | Venezuela's highest denomination banknote has ceased to be legal tender, in a move that has caused cash chaos and long queues at banks this week. |
| Some cash machines on Thursday were still issuing the old 100-bolivar notes, hours before they expired. | Some cash machines on Thursday were still issuing the old 100-bolivar notes, hours before they expired. |
| President Nicolas Maduro said new higher-denomination bills would be fully distributed in January. | President Nicolas Maduro said new higher-denomination bills would be fully distributed in January. |
| He has closed the borders with Brazil and Colombia until Sunday to stop "mafias" hoarding the currency abroad. | He has closed the borders with Brazil and Colombia until Sunday to stop "mafias" hoarding the currency abroad. |
| Venezuelans have been seen lining up outside banks after they were given 72 hours to exchange the 100-bolivar note for new larger denomination notes and coins. | Venezuelans have been seen lining up outside banks after they were given 72 hours to exchange the 100-bolivar note for new larger denomination notes and coins. |
| The 100-bolivar note is worth just two US cents on the black market. | The 100-bolivar note is worth just two US cents on the black market. |
| Venezuelans mock 'useless' banknote | Venezuelans mock 'useless' banknote |
| What's behind the crisis in Venezuela? | What's behind the crisis in Venezuela? |
| Some people on Thursday still received the 100-bolivar notes when they withdrew money at ATMs, then immediately had to queue up again to re-deposit the soon-to-expire notes. | Some people on Thursday still received the 100-bolivar notes when they withdrew money at ATMs, then immediately had to queue up again to re-deposit the soon-to-expire notes. |
| "I don't get the joke," office worker Yarelis Carrero, who lives in the capital Caracas, told the AFP news agency. "When you withdraw cash at the ATMs, they give you 100-bolivar bills. And you can't get the new ones inside the bank, either." | "I don't get the joke," office worker Yarelis Carrero, who lives in the capital Caracas, told the AFP news agency. "When you withdraw cash at the ATMs, they give you 100-bolivar bills. And you can't get the new ones inside the bank, either." |
| Another bank customer said no-one had seen the new bank notes yet. "A guy I know who works for an armoured truck company said even they haven't seen them. Pure lies!" Saul Bernal said. | Another bank customer said no-one had seen the new bank notes yet. "A guy I know who works for an armoured truck company said even they haven't seen them. Pure lies!" Saul Bernal said. |
| But President Maduro praised Venezuelans for their understanding in a televised address on Thursday. | But President Maduro praised Venezuelans for their understanding in a televised address on Thursday. |
| "This is a big effort we're doing to tackle so many evils and tricks. We're burning the hands of the mafia," he said, quoted by Reuters news agency. | |
| He said the new bills were already being distributed and would be fully circulated in January. However, the replacement bills have yet to be seen in the streets. | He said the new bills were already being distributed and would be fully circulated in January. However, the replacement bills have yet to be seen in the streets. |
| He also extended the border closure with Colombia and Brazil - in place since Tuesday - by another 72 hours. | He also extended the border closure with Colombia and Brazil - in place since Tuesday - by another 72 hours. |
| Central bank data suggests there are more than six billion 100-bolivar notes in circulation, making up almost half of all currency. | Central bank data suggests there are more than six billion 100-bolivar notes in circulation, making up almost half of all currency. |
| The note is almost worthless so that buying almost anything with cash means a dangerous exercise carting around hundreds or thousands of bank notes in a country where robbery and violent crime is rife, says the BBC's South America correspondent Wyre Davies. | The note is almost worthless so that buying almost anything with cash means a dangerous exercise carting around hundreds or thousands of bank notes in a country where robbery and violent crime is rife, says the BBC's South America correspondent Wyre Davies. |
| President Maduro has blamed currency speculators and gangsters in neighbouring Colombia for inflation that has reached 500%. | President Maduro has blamed currency speculators and gangsters in neighbouring Colombia for inflation that has reached 500%. |
| Economic experts, however, say the measure to take the note out of circulation will have little positive effect on the country's chronic economic and political problems. | Economic experts, however, say the measure to take the note out of circulation will have little positive effect on the country's chronic economic and political problems. |