The Venezuelan economy continued to collapse this week after the failed assassination attempt on socialist President Nicolas Maduro, with the exchange rate reaching levels so bad that just $1 can purchase over 900,000 gallons of gasoline.
According to Yahoo News, the Venezuelan Bolivar plunged even further in recent trading, with a single egg costing residents as much as 200,000 Bolivars.
“In Venezuela’s inflation-hit economy, a single US dollar can buy 3.5 million liters of gasoline — an absurdity that the government says it will tackle with a hike in the cost of state-subsidized fuel,” writes the AFP. “A liter of 91-octane gasoline currently costs one bolivar, while 95-octane gas costs six. By contrast, a single egg in Venezuela’s hyperinflation ravaged economy — estimated by the IMF at one million percent in 2018 — costs 200,000 bolivars.”
The ultra-inflation took a turn for the worse just hours after a series of drone-controlled explosives attempted to take the life of President Maduro as he addressed a military parade in the nation’s capital, Caracas.
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