Venezuela money supply up 200 percent in year, fastest rise on record

Reuters/Girish Gupta/04-03-17

Crisis-stricken Venezuela’s money supply has surged over 200 percent in a year, its fastest rise since records began in 1940, putting it on track for what is likely the world’s highest inflation.

Soon after a month-long hiatus from publication, the central bank said late on Friday the total amount of local currency in circulation – known as M2 by economists – as of March 24 was 13.3 trillion bolivars, up 202.9 percent from a year earlier.

In contrast, the United States’ money supply was up 6.4 percent in the same period.

Venezuela is in a major economic crisis, with millions struggling with food shortages and inflation thought to be in triple digits – though no official data is available.

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