Venezuela's currency can't get you much these days. 100-thousand bolivars are worth just a single dollar on the black market. So as hyperinflation makes old notes worthless, Venezuelans are coming up with creative uses for the once valuable paper.
Venezuela is in the middle of an economic meltdown, facing chronic inflation and an acute shortage of essential goods. The government wants to tackle the situation by raising fuel prices. But that could prove tricky.
Thousands of people are fleeing Venezuela amid food, power and medicine shortages. President Nicolas Maduro's government now wants to strengthen border controls and has raised the price for passports.
The Venezuelan economy is in freefall, crippled by a currency crisis that has seen inflation soar to farcical levels. The country’s populist government introduces measures on Monday aimed at halting the collapse.
In a bid to combat hyperinflation, Venezuela has unveiled new paper money with five fewer zeros. It comes after the IMF warned that the nation's inflation could reach one million percent this year.
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