Monday, December 19, 2016

Venezuela's President defends withdrawal of major banknote.

   Venezuelan President Nicolas Maduro says his decision to scrap the nation's most-used banknote has allowed it to triumph over its enemies.

   According to reports, the withdrawal of the 100-bolivar note has prompted protests and looting in several states as the supply of ready cash rapidly ran out.
   But  Maduro said taking millions of notes out of circulation had smashed the black market.
  He has, however, postponed the withdrawal until early January.
Meanwhile, some businesses were reportedly still refusing to accept the 100-bolivar notes, even though they remain legal tender until the new year.


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