Venezuela extended the closure of its borders with Colombia and Brazil for another 72 hours as part of a drive to fight what it calls criminals hoarding 100-bolivar banknotes.

The closure in place since Monday will now last until Sunday, President Nicolas Maduro said.

The government is withdrawing the 100-bolivar note on the grounds that "mafias" are hoarding it abroad in what Maduro calls a US-backed plot to destabilize Venezuela.