Venezuelans face long lines at banks as central bank releases new bills and coins

The Banco Central de Venezuela (BCV) is set to release new, higher denominations of bills and coins on 15 December 2016, as Venezuelans wait in long lines to turn in 100-bolívar notes in compliance with a presidential decree. On 11 December President Nicolás Maduro ordered Venezuelans to deposit or exchange their 100-bolívar notes, which will no longer be valid after 15 December (Panorama). Those who still have 100-bolívar notes after that date will only be able to exchange their bills for lower-denomination notes at the external offices of the BCV in Caracas and Maracaibo from 16 to 25 December. According to El Nacional, public and private banks have not been supplied with the new higher-value bills, they have run out of lower-value bills to exchange 100-bolívar notes, and can only accept deposits.