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Home » The Unexpected Benefits and Challenges of Currency Devaluation in Venezuela

The Unexpected Benefits and Challenges of Currency Devaluation in Venezuela

Screen Shot 2015-07-08 at 12.45.25 PMHaving your largest banknote worth only USD 0.20 can surprisingly be beneficial. It effectively prevents anyone from carrying a large sum of money since it would simply be too heavy.

Thieves in Caracas recently struck a bank while its vault was open, leading to an extraordinary theft of BSF 2.4 million, according to a report by El Nacional. Interestingly, they left behind a sack containing nearly 1.8 million bolivars outside the bank and escaped with just 647,000 bolivars—equivalent to approximately USD 1,440 at the current market rate.