Two months have passed since the arrival of the monetary reconversion in Venezuela.
In this period that began in August, the dollar was "placed" by the state at 60 Bs.S/USD.
Today (10/30/18), the parallel dollar (and the only one handled everywhere) reaches 230 Bs.S/USD.
The Venezuelan paper we call "money" every day is worth less. You need more 0's for the purchase. In two or three days this publication and the photograph that we see above, will not be at all according to the value.
As you can see, if you take a paper of each denomination, you would only have..
Consequently, little by little more paper is needed to acquire something simple, you will need lots and lots of paper to acquire something as simple as a single dollar soon.
- The mayor denomination of U.S Dollars is 100$, well.
- The mayor denomination of the Bolívar Soberano (VES) is 500Bs.S = 2.1$
Perfect, you will say, 48 pieces of paper? At least there are 100.
I say, no, still.
Two months ago you could buy dollars at 60 Bs.S each. Being the value of 500 Bs.S = 8.33$
In just two months, the largest denomination of Venezuelan paper went from being worth 8.33$ to 2.1$.
If this was possible in just two months.. How many pieces of paper will we need to reach 100$?
More inflation = More paper = ¿More inflation? Repeat process.
Keeping money in local currency is crazy. Only two days pass, and it's worth 30% less (at best). Does paper money have any real value more than the money spent printing them?
The double..
In just 18 days the price of the dollar with respect to Bolívar Soberano has increased 100%. Since a few years ago the Bolivar has continued to devalue and cause inflation, so it is not crazy to think about a bigger problem than two months ago.
How many more papers (x48 +) will cost me 100$?
I will update the information for 3 days, to see the change in rates and know how many more papers I will have to pay for a single dollar..