Venezuela's Inflation is so Bad That the Currency isn't Worth a Penny

Just a month ago, $1 was worth 279 bolivars. That was already pretty dismal for Venezuela. Now $1 equals 408 bolivars, according to the unofficial exchange rate, which most Venezuelans get when they try to trade currency, reports CNN.

Put another way, one bolivar equals $0.002 -- less than a penny. The country's currency has lost nearly half its value since the beginning of May, according to dolartoday.com, a website that tracks the unofficial exchange rate.

And it is probably going to get worse. CNN reports:

 The grand finale to Venezuela's tumultuous 2015 could come in October.

The government owes about $5 billion in debt payments then, and there are few convincing signs that [President] Maduro and his government can pay the bills. Venezuela could default on its debt in October, sending the country further into economic mire.

 -RW