The daily life of Venezuelans has now become a matter of survival, facing, among others, the economic and food crisis. There are many problems to which we must seek a solution to continue with our duties and occupations.
From students to workers, merchants and vendors, we are all severely affected by the shortage of cash that exists in Venezuela, all due to poor economic policies and of course the enormous inflation.
I understand that for people from other countries it may be a bit complicated to understand the subject because they have not lived through this situation, so I will tell them in the best possible way how we are living day to day with very little cash.
You see, here we have a very high inflation (too much), there is a lot of monetary liquidity, and economic policies that favor inflation like the unsupported printing of new currencies or the devaluation of the currency.
Well, presumably this situation has not happened overnight, has been arising for many years to the point where we are today and the worst is that it does not stop deteriorating
To enter the context, an average worker has a monthly salary of at least 790,000 Bs, that is equivalent to 6 $ USD to the unofficial change (130,000 bs per Dollar) (currently it is the only rate available and in which all use as reference for the price of products and services) [All figures are approximate] ...
The banks here offer two ways to withdraw our money in cash, ATM and ATM, ATM has a daily withdrawal limit of 10,000 bs per person (0.076 $) although it is very rare to find one of these ATMs have cash because all banks every day are full of people looking for cash for transportation and food, then just recharge cash machines with cash, all approaching these forming a queue to withdraw the desired cash ...The second method of withdrawal of cash is within each bank through the ticket offices where long lines of people are formed that can last up to 4 hours, the withdrawal limit can vary greatly depending on the availability of cash that the entity has in that specific time, there are still predetermined amounts that banks establish to be able to serve as many people as possible, when there is enough cash a maximum of 100,000 bs (0.77 $) can be withdrawn and in normal days the withdrawal limits are established in 30,000 bs (0.23 $), 20,000 bs (0.15 $) or 10,000 bs (0.077 $) respectively, with these amounts there is very little that can be done, barely enough for the passage of a couple of days and again you should go to banks for cash ... Of course there is a black market for cash in Venezuela, people who have the facility to acquire cash (merchants, transporters, commercial premises) sell the cash c On a surcharge of up to 60% on the amount that you want to acquire, for example if you want to obtain 100,000 bs in cash, you must pay the seller 160,000 bs through an electronic payment, this modality is called "cash advance" and is very requested by people who urge them to travel ...
Well, this is only a small part of the complex and sad reality that is lived every day in Venezuela, I hope to have explained myself well, thank you for your time! comment and vote what does this look like?