Venezuela to issue 1-million-bolivar bill, but it’s worth only 50 cents amid raging hyperinflation
Venezuela is set to have a new highest valued banknote of one million bolivars as soon as next week. But as the sanctions-hit country is facing enormous inflation, the bill is only worth around 50 cents.
Oh ya 3 year ago
Sad because printing that bill costs more than it is worth. But toilet paper is a good thing. This will be coming to many countries in the world as central banks are flooding the world trying to keep the markets alive. Venezuela and Zimbabwe and Argentina are living proof you can not print your way out of debt