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August 2, 2018 12:32 am PDT
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/ttJbMVgHcWs/one-us-dollar-costs-175000-ve.html
One US dollar costs 175,000 Venezuelan bolvars
In 2010 a Venezuelan bolvar was worth about US$0.50. Today it's worth US$0.0000058.
Here's another way of looking at it. A satoshi is one one-hundred-millionth of a single bitcoin. At the current exchange rate, a bolvar is worth less than 1/8th of a satoshi.
The Central Bank of Venezuela is getting ready to issue a new currency, called the bolvar soberano. The plan was to make 1,000 bolvar = 1 bolvar soberano in June, but the president decided to wait until later this month and make 100,000 bolvar = 1 bolvar soberano.
This is what 2,1m bolivars (1 USD) looks like. Inflation this week was 50% aproximately - 170% montly inflation from r/pics
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/ttJbMVgHcWs/one-us-dollar-costs-175000-ve.html
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