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Venezuelans can't wait to ditch their Bolivars

Venezuelans can't wait to get rid of the Bolivar
 
Just when the UK is working on ways to avoid deflation, Venezuela which has the largest oil reserve in the world and one of the leading exporters of crude oil, is on the brink of hyper-inflation.
 
Falling oil prices in recent times as well as internal issues has lead to the Venezuelan Bolivar depreciating at a free fall.
 
The Bolivar at the moment is being exchanged at the rate of 420 per $1. Venezuelans in Caracas have lost faith and no longer think their local currency is worth holding unto.
 
A Barclay Capital Inc. report projects that the Venezuelan Bolivar could dip as low as 600 per dollar, hence the frenzy to ditch the local currency for the American dollar which many feel is the best way to protect themselves.

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