By 2016, Venezuela's inflation rate had already crossed 250% annually — the 10 bolívar coin was effectively worthless before it left the mint. The Banco Central de Venezuela continued issuing lower-denomination coinage through sheer institutional inertia even as the parallel exchange rate made the entire series economically absurd. Within two years, the government would lop six zeros off the currency in a redenomination that rendered this issue obsolete by decree.
By 2016, Venezuela's inflation rate had already crossed 250% annually — the 10 bolívar coin was effectively worthless before it left the mint. The Banco Central de Venezuela continued issuing lower-denomination coinage through sheer institutional inertia even as the parallel exchange rate made the entire series economically absurd. Within two years, the government would lop six zeros off the currency in a redenomination that rendered this issue obsolete by decree.