A photo of Venezuelan bank notes scattered on the street has been shared by online users alongside claims it is a depiction of current monetary values in the country. The photo shows banknotes of the Bolívar Fuerte, a currency that was replaced by the Bolívar Soberano in 2018, tossed in the street by bank robbers when they realized they got hold of a retired currency.
By Reuters
Apr 11, 2023
Examples of users sharing the photo on Facebook saying it shows current bank notes in Venezuela, can be seen (here) and (here).
Sentiment over Venezuela’s weak currency is accurate, as the Bolívar Fuerte was retired due to high inflation rates topping 46,000% in June 2018, removing five zeros. The newer Bolívar Soberano continues to suffer, however, leading Venezuelans to use U.S. dollar banknotes for many everyday transactions (here), (here).
Analysts told Reuters the economy could return to hyperinflation this year (here).
This scene is missing context, however, as it shows now-worthless notes tossed on the street following a bank robbery in the town of Mérida the year after the Bolívar Fuerte was replaced.
Reverse image searches lead to a wider view of the same scene in an image posted on March 16, 2019 on Imgur (imgur.com/gallery/sVS2X2o).
The grass, sidewalk and building color match a photo featured in local reports at the time of a robbery at the Bicentennial Bank in Mérida, Venezuela on March 11, 2019 (imgur.com/a/d3tkdae), (here), (here), (here).
National Assembly Deputy Williams Dávila also confirmed the incident in a tweet at the time (here).
Reuters Fact Check has previously debunked posts that shared a similar photo alongside claims that Italians threw money onto the streets amid COVID-19 lockdowns (here).
VERDICT
Miscaptioned. The photos show the aftermath of a Venezuelan bank robbery in 2019. Thieves discarded worthless currency on the streets as the stolen money was of a retired currency.
This article was produced by the Reuters Fact Check team. Read more about our work to fact-check social media posts (here).
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