Photo: Venezuelan Bolivar
(Reuters)
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.
This article originally appeared in print under the headline "Photo."