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Lugging suitcases of money through hyperinflation: a village comes with its own currency

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ELORZA – The Venezuelan town of Elorza starts Monday with a marktfestival, but there is no serious money left in circulation. The Venezuelan currency, bolivar suffers hyperinflation, making the inhabitants with suitcases Venezuelan money would have to carry. The municipality therefore has its own currency issued. Who is called to the place, and to the nineteenth-century freedom fighter colonel José Andrés Elorza.

The Venezuelan currency, bolivar suffers from hyperinflation.

Mayor Solfreddy Solórzano hopes that the local currency will help that money rolls in Elorza, more than 450 kilometers southwest of Caracas. At previous markets and festivals in the area noticed that there was not more was resolved. The place now offers the elorza notes that in bolívares via a bank transfer can be purchased. The mayor sells them and takes them back if the user of them wants to on his departure from Elorza.

Not everyone is happy with the new money. Traders have complained that the municipality money has asked for the introduction of the elorza, reported the Venezuelan media. It is the second time a small community of its own currency spends by mismanagement ruined country. Since december is there in the capital Caracas with the ’panal’ in circulation.

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