CNN Money published a
story today which describes what it’s like to get money—or try to—from an ATM in
Venezuela. Given that the country is undergoing
quadruple-digit inflation, you won’t be surprised to learn that banking has
become extremely difficult. The amount each person is allowed to withdraw from
the bank on a given day is set by the government but also by the bank branch
depending on how much cash is available. Those amounts aren’t announced ahead
of time, they just fluctuate daily. Meanwhile, the value of the currency itself
is also dropping by the day meaning the amount you’re allowed to withdraw is
worth less and less. In fact, taking the equivalent of $1 US out of the bank in
cash is impossible. More…
No comments:
Post a Comment