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

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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?1092&format=pjpg&auto=webp&s=3895dcc2bfe48de75463ca010e47077cb26e71ed

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

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.

submitted by /u/WorkingLime
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