December 8, 2016 in Daily Bulletin
Fabiola Zerpa and Andrew Rosati showed us what Venezuelan hyper-inflation looks like:
- Inflation in Venezuela is running somewhere between 200% to 1,500% a year.
- For vendors still willing to accept Venezuelan currency, it’s not worth taking the time to count it. Instead many will just weight it to approximate its value.
- The government has been stubborn about releasing notes worth more than 100 bolivars.
- Today that’s worth just US$0.10. But the government has promised to print bills as big as 20,000 bolivars – in time for Christmas bonuses.
- Until then Venezuelans will lug around massive piles of cash. ATMs used to be restocked every few days, but now have to be restocked several times a day.
Read more about life in a country dealing with hyper-inflation on Bloomberg.
Via: Marginal Revolution