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Keyword: venezuelainflation

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  • Venezuela's currency is now so worthless that people are using it as napkins

    08/18/2015 3:22:24 AM PDT · by Zakeet · 20 replies
    Business Insider ^ | August 18, 2015 | Mike Bird
    There’s an image going round that sums up just how ridiculous Venezuela’s economy has become. A Reddit user uploaded a picture on Monday of a man using a 2 bolivar note to hold an empanada. According to Venezuela’s official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $US0.31 (£0.20). But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dolartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.
  • Venezuela's Currency Is Now So Worthless That People Are Using It As Napkins

    08/18/2015 3:12:26 AM PDT · by blam · 11 replies
    BI ^ | 8-17-2015 | Mike Bird
    Mike BirdAugust 17,2015 There's an image going round that sums up just how ridiculous Venezuela's economy has become. A Reddit user uploaded a picture on Monday of a man using a 2 bolivar note to hold an empanada. According to Venezuela's official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $0.31 (£0.20). But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dolartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.(snip)