Crypto currency is the buzz word today but have you heard of Egg as a currency.
Inflation ravaged Venezuela has its own crypto currency-Egg which has become a common medium of exchange.
Security firm in Venezuela is offering monthly salary of 2 million Bolivar ($10 or Rs 650) and a motivational bonus of 36 eggs a week if guard comes on time and is neatly dressed. A computer programmer drew his salary in eggs and a priest could buy 30 eggs with a Sunday’s collection of donation in Bolivar while he would spend a whole year’s donation on them.
Venezuelans have lost faith in cash as its value nosedives daily. In 2017 money supply sky rocketed 14 times.
As per IMF price will increase 130 times while economy will reduce to half of its 2013 level.
Price of 30 eggs in December 2018 is estimated to be 32,175,000 Bolivar.
Let’s see what lies ahead for a common man.