Want an example why? I went to an ATM here Venezuela to withdraw around 10 USD, got a pack of 80 banknotes!

https://preview.redd.it/z5k7lq6r5p9c1.jpg?width=1092&format=pjpg&auto=webp&s=3895dcc2bfe48de75463ca010e47077cb26e71ed

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https://preview.redd.it/31jx29es5p9c1.jpg?width=774&format=pjpg&auto=webp&s=e09bff8f01c16dc2ee46badbf718efc9dde364db

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Inflation has slowed down, now only 180% in the last 11 months.

Years ago it would be over thousands percent.

This was after removing zeroes several times,

  • 3 in 2007
  • 5 in 2018
  • 6 in 2021

So that 5 Bs. (Bolivares) banknotes would have been 500,000,000,000,000 Bs. before 2007. That pack was around 360 Bs.

I am Venezuelan living here, crypto enthusiast

Exchange rate is around 36 Bs. per USD (official rate) and 39 Bs. per USD (street rate). Monthly minimum wage is 130 Bs. and you get around 40 USD as bonus.

At the start of the year exchange rate was around 17 Bs. per USD.

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4 thoughts on “Want an example why? I went to an ATM here Venezuela to withdraw around 10 USD, got a pack of 80 banknotes!”

  3. Question is why are you in Venezuela? You bout to get kidnapped … ransom’s gonna be a pair of Nike’s 😆

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