Caracas: The South American country Venezuela has issued a new currency note of 1 million bolivars to deal with the cash-strapped and severe inflation. Let us tell you that Venezuela has become the largest country in the world to print such a large currency note.
It should be noted that the price of 10 lakhs bolivar is only 36 rupees according to half US dollar i.e. Indian currency. From the point of view of India, half a liter of petrol will not be available here. According to media reports, people fill bags in sacks and take notes even if they do not get the necessary goods.
There is terrible starvation in Venezuela
For information, let us tell you that Venezuela is undergoing starvation at this time. The economy of the country is so bad that millions of people go to bed hungry because they do not have food to eat. According to a report, there are about 700,000 people in Venezuela who do not have the money to buy food two times. The United Nation Food Program Agency said in February that one in every three citizens of Venezuela did not have food to eat. In the present time, due to corona, the situation has become worse.
2 lakh and 5 lakh notes will also be released
According to the report of the central bank, currency of 2 lakh and 5 lakh bolivar will also be issued in Venezuela very soon. Such a decision has been taken to bring back the economic crisis and inflation in the country. Currency notes of two lakh and 5 lakh bolivars can be issued next week. Please tell that in Venezuela, currency notes of 10 thousand, 20 thousand and 50 thousand are currently in circulation.
25584.66 bolivar priced at one rupee in India
Comparing the currency of India and Venezuela, the price of one rupee in India is about 25584.66 bolivars. Significantly, Venezuela’s economy is in the grip of recession for the eighth consecutive year due to the end of the Corona epidemic and oil money. According to media reports, in Venezuela, about 70 million do not have the money to buy bread two times.
Such a bad situation
In 2013, Chavez chose Maduro as his successor, who inherited a large debt. Politics was at its peak, with oil prices also falling. When oil became cheaper, income decreased and poverty increased, so Maduro dropped the price of the currency. Nothing was done with this step, but inflation definitely started increasing. The pockets of the public were getting lighter than before, now he started getting kicked on his stomach as well. From here the economic and political division of the country started happening. After which the price of the country’s currency started coming down and things with power cuts and basic necessities started getting expensive.
