Venezuelans Rush to Banks to Trade in 100-Bolivar Notes

StoryfulPublished: January 13, 2017
Published: January 13, 2017

People in Venezuela formed long lines outside banks across the country after President Nicolas Maduro declared the 100-bolivar note void on Sunday, December 11.

The bill is the country’s largest demonination but, amid a tanking economy and severe inflation, is now worth just three US cents.

Maduro claimed the measure would target criminals at the Colombian border who hoard bolivars and use them to undermine the economy as part of an international conspiracy, <a href="http://www.telesurtv.net/news/Nicolas-Maduro-la-finalidad-de-la-conspiracion-economica-es--politica.-20161213-0011.html" target="_blank">Venezuelan media reported</a>. He said the measure would safeguard the currency and was to the benefit of Venezualans.

The government closed its border with Colombia on Monday, and the bill was to be pulled on Thursday, leaving people 10 days to exchange them at the central bank.

Many Venezuelans, who had become used to storing large amounts of the bills, were angered by the move. This footage shows long lines outside banks in the city of Valencia and elsewhere in Carabobo province on December 13. Thomas Dangel, who shot the videi, called the measure “absurd” and said it failed to solve the problems of inflation and scarcity. “The problem is not the ticket, the problem is Nicolas and his incapable government,” he wrote.

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