Stack of money that 15 years ago bought an apartment now only pay for a coffee in Venezuela

It takes a pile of money to buy a cup of coffee in Venezuela. Hyperinflation ended the value of the local currency, the bolivar. Today you need all that money to buy a coffee. You would have paid for 15 years ago for a one-bedroom apartment.

Venezuela has the largest oil reserves in the world. But the fall in the price of the barrel and failures of the government generated a serious recession.

There are huge queues at the banks, which do not have enough money to meet the entire population demand. The government blames international sanctions for the rise in prices and the devaluation of the local currency.

One way to put money here is through social networks. If I do a quick search on Facebook, I find someone selling money and all you have to do is go get it.

If you want to pay the daily cash costs, you will need to carry a bag full of notes.

Inflation is expected to reach 13,000% this year, according to the International Monetary Fund (IMF).


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