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5/13/15

UPDATED: Looking for a cheap vacation destination this year? Try Venezuela (and take US Dollar bills with you)

Via ace reporter Girish Gupta here and here, with the headsup from Setty here, behold the 2015 year to date forex pair of the Venezuelan Bolivar Fuerte (VEF) versus the United States Dollar (USD):


If you go the official government counter or a bank in Venezuela you get 6.3 VEF to your dollar, or perhaps 12.3. If you do that you're mad, because the black market street rate just went over 300 to the dollar.

UPDATE: Just how cheap is that? Here's a website with up to date prices for supermarket goods in Venezuela which gives the prices of various typical products in US Dollar terms at the official rate of 6.3 VEF to 1 USD. To the right in red I've done the calcs on the same things but at the 300-to-1 black market prices:


Even if they've doubled since the March 2015 date of record on that website, they're cheap.