Venezuela’s hyperinflation is jaw dropping. See for yourself

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Venezuela’s hyperinflation is jaw dropping. See for yourself – Jul. 28, 2017

Arming 'La Resistencia' in Venezuela

Venezuela’s cash becomes a little more worthless every day.

It’s a problem at the core of people’s lives in Venezuela. Inflation forces them to cough up more and more bills for staples like food and medicine, which are in short supply for many, creating a humanitarian crisis.

‘; var storytext = document.getElementById(‘storytext’); var heightToSkip = 0; function resetValues() { totalHeight = 0; targetChildElement = null; } if(storytext == null) { console.log(“Error finding storytext element for SA embed”); return; } for ( i = 0; i 0) { heightToSkip -= storytext.childNodes[i].clientHeight; resetValues(); } else if(heightToSkip minHeight && targetChildElement != null) { //console.log(“total height = ” + totalHeight); //console.log(“childNode = ” + targetChildElement); storytext.childNodes[targetChildElement].insertAdjacentHTML(‘afterend’, smartAssetDiv); smartasset = document.getElementById(‘smartasset-article’); smartasset.style.float = ‘left’; // allows module to have text float to right smartasset.style.marginRight =’20px’; smartasset.style.marginBottom =’25px’; //console.log(storytext.childNodes[targetChildElement]); //SMARTASSET.setDivIndex(targetChildElement); SMARTASSET.setSmartAssetScript(); /* bail out since we’re done */ break; } } /* div with id=”smartassetcontainer”. Sanity check to only embed once */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “smartassetcontainer”) { break; } /* div with id=”ie_column” */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “ie_column”) { resetValues(); } /* embeds from twitter, facebook, youtube */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(’embed’)) { resetValues(); } /* cnn video player */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(‘cnnplayer’)) { resetValues(); } /* images */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘img’) { resetValues(); } /* images stored in figure tags */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘figure’) { if(storytext.childNodes[i].clientWidth

On Friday, $1 equaled 10,389 bolivars. Earlier this week, on Monday, it was worth 8,820 bolivars. At the start of this year, $1 equaled 3,164 bolivars, according to the unofficial exchange rate calculated by dolartoday.com, which millions of Venezuelans use.

What’s worse: Private banks let Venezuelans take out only 30,000 bolivars ($2.88) from an ATM at at time. Government-run banks: 10,000 bolivars (96 cents).

The currency’s plunge over the years is jaw dropping.

venezuela cash crisis timeline 2

–Stefano Pozzebon contributed reporting to this article. Graphics by Caroline Matthews.

CNNMoney (Caracas) First published July 28, 2017: 1:19 PM ET

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply