3 deaths reported in Venezuela cash chaos

Three people have reportedly died in unrest in Venezuela after the country's highest banknote was removed from circulation.

A group of people line up near the Central Bank of Venezuela

Three people have reportedly died in unrest after Venezuela's highest banknote was removed. (AAP)

Protests and looting broke out in parts of Venezuela on Friday due to a lack of cash after the socialist government suddenly pulled the nation's largest banknote from circulation in the midst of a brutal economic crisis.

An opposition legislator said there were three deaths amid violent scenes in the southern mining town of Callao - but there was no confirmation of that from the government.

Waving the now-worthless 100-bolivar bills, pockets of demonstrators blocked roads, demanded that stores accept the cash, and cursed President Nicolas Maduro in a string of towns and cities around Venezuela, witnesses said.

Dozens of shops were looted in various places.

Last weekend, Maduro gave Venezuelans three days to ditch the 100-bolivar bills, arguing that the measure was needed to combat mafias on the Colombian border.

With new bills - originally due on Thursday - still nowhere to be seen, many Venezuelans were unable to fill their vehicles' fuel tanks to get to work, buy food or purchase Christmas gifts.

Adding to the chaos, many cash machines were broken or empty. And large lines formed outside the central bank offices in Caracas and Maracaibo, where the 100-bolivar bills could still be handed over and deposited for a few days more.

"This is a mockery," said bus driver Richard Montilva as he and several hundred others blocked a street outside a bank in the town of El Pinal.

First Justice lawmaker Angel Medina said large numbers of shops had been ransacked, destroyed and burned in El Callao, with three people killed and many injured.

Reuters could not independently confirm his statements.

Speaking in general terms, Maduro condemned the violence around the country, and said two banks had been attacked by people linked to the opposition coalition.

He said the new bills would come into circulation soon, appealed for the population's "comprehension", and urged Venezuelans to use electronic transactions where possible.

About 40 percent of Venezuelans do not have bank accounts.


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Source: AAP


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