Published On: Mon, Apr 16th, 2018

Venezuela’s Bolivar Sees 454% Inflation in Q1 as Maduro Hawks the Petro

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Runaway inflation continues to devalue the Venezuelan Bolivar (VEB), even as the country’s authoritarian government seeks to divert attention from the floundering economy by hawking its “Petro” cryptocurrency. According to Reuters, prices in Venezuela rose by 454 percent during the first quarter of 2018 and have swelled by 8,900 percent over the past 12 months.
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