Venezuela's Oil Riches vs. Ruined Bolivar: Why is its Currency So Weak?

• Venezuela's Bolivar is one of the world's fastest devaluing currencies despite having the largest crude oil reserves.
• Hyperinflation, weak economic management, political instability, and US sanctions have crippled its economy.
• The country declared bankruptcy in 2017, eroding investor confidence and leading to declining oil production.
• Ordinary citizens face hyperinflation, needing vast cash for daily needs, and rely on foreign currencies like USD.
• 10,000 Indian Rupees are worth approximately 33,850 Venezuelan Bolivars, highlighting the Bolivar's extreme weakness.

Why It Matters: Venezuela's economy suffers from hyperinflation and sanctions, making its oil wealth ineffective and currency extremely weak.