Venezuela's bolivar is worthless and its annual inflation rate is the world's highest: 1195%. Not surprisingly, Venezuelans get rid of bolivars like hot potatoes, replacing them with U.S. dollars. But, the question I am repeatedly asked is, how do you officially dollarize a place like Venezuela?
Venezuela's bolivar is worthless and its annual inflation rate is the world's highest: 1195%. Not surprisingly, Venezuelans get rid of bolivars like hot potatoes, replacing them with U.S. dollars. But, the question I am repeatedly asked is, how do you officially dollarize a place like Venezuela?
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