Scrapping most-used currency bill an economic triumph: Venezuelan president

Venezuela's president has said the sudden decision to scrap the most-used currency bill was an economic triumph over the country's enemies, even as the government sent troops and police to cities where riots and looting broke out over the measure.

In a national radio and television broadcast, Nicolas Maduro said his abrupt action had flooded the country's banks with currency deposited by Venezuelans racing to get rid of the paper bills while also devastating Colombian-border currency traders he blames for the bolivar's precipitous plunge in value against "the criminal dollar".