Venezuela is facing an explosive inflation of 13,000 percent making smaller denomination banknotes practically worthless. Traders and street-sellers have taken this opportunity to rather go creative and are making baskets out of banknotes. Venezuelan currency has dropped is value by 87 percent against the euro.
People are throwing Bolivar notes on the streets because of their low value. Nobody is accepting them either. Some vendors are also making origami-inspired handbags, baskets, hats, and purses from these banknotes. These vendors believe that banknotes are better than magazine paper or newspaper pulp because the former is absolutely useless otherwise. Also, you would not have to spend time in cutting paper. Some of these products are sold for 300,000 bolivars – an amount which is required to buy a kilo of meat.
Some are also drawing Star Wars character faces over the pictures of important personalities featured on banknotes. The artist has been selling these pieces for £14 each which is 5,000 percent higher than the note’s actual value.
Thousands of Venezuelans are fleeting to Colombia to escape increasing poverty, crime, and economic crisis.