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1.Market Observations, 8.Was Sticky

29 Nov 2016 (TheAge) – Venezuela’s bolivar currency so devalued it no longer fits in wallets

(29 November 2016, The Age, p12, Sofia Barbarani)

Caracas, Venezuela: It’s not easy to find someone who still uses a wallet in Venezuela, where inflation is expected to reach 720 per cent this year and the biggest bill – 100 bolivars – is worth about US5¢ on the black market. The currency has dropped dramatically in value as Venezuela’s oil-based economy has tanked and the government has frantically printed more money. Prices, meanwhile, are soaring.’


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