Photo: Venezuelan Bolivar


Joanna Andreasson

Shoppers in Venezuela needed a stack of 9.5 million bolívar fuertes—equal to just $1.45 U.S.—to buy one kilogram (about 2.2 pounds) of steak earlier this year. In summer 2018, the socialist-run country was experiencing an inflation rate of nearly 100,000 percent, leading President Nicolás Maduro to introduce a new currency: the bolí­var soberano. (Each new bill is worth 1,000 fuertes.) Maduro has yet to figure out how to fix the other problem with shopping in Venezuela: The country's shattered economy has left many stores nearly empty, making it all but impossible to purchase basic goods for any amount of cash.