Wednesday, December 7, 2016

Venezuela: Currency Worth So Little Shopkeepers Weigh Piles of Notes

This is what hyperinflation looks like.

Caleb Stephen at reports:

Inflation in Venezuela is projected to soar to 720 percent this year with the largest bolívar bill now worth just five US cents on the black market.
Shopkeepers are reportedly weighing rather than counting the wads of cash customers hand them, and standard-size wallets have become all but useless in the socialist South American state. Now instead of a wallet, you literally need a backpack to haul around your sizeable load of cash (that’s if you have any).

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