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 bolĂ­var 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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