Venezuela's economy is imploding [View all]
Source: CNN
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Put another way, one bolivar equals $0.002 -- less than a penny. The country's currency has lost nearly half its value since the beginning of May, according to dolartoday.com, a website that tracks the unofficial exchange rate.
It's another sign that Venezuela is arguably the world's worst economy. Venezuela primarily relies on oil exports to support its economy, which was already under pressure before oil prices tanked in the fall and winter.
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But the bolivar's implosion has only created more inequality. There's a growing divide between Venezuelans who can pay to exchange bolivars for dollars and those who can't. The gap is most glaring at the local grocery store.
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Maduro's government now barters in its trade deals. Uruguay pays Venezuela in beef for some of the Venezuelan oil it buys. In February, the prime minister of Trinidad and Tobago offered to exchange toilet paper for Venezuelan oil. Venezuelan officials declined to comment on the offer, according to Bloomberg.
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