Why a bolivar today is worth much less than a bolivar in 1988
Updated: September 11, 2024$100 in 1988 is equivalent in purchasing power to about $4,481,810,586,403.30 today, an increase of $4,481,810,586,303.30 over 33 years. The bolivar had an average inflation rate of 110.27% per year between 1988 and today, producing a cumulative price increase of 4,481,810,586,303.30%.
This means that today's prices are 44,818,105,864.03 times as high as average prices since 1988, according to the International Monetary Fund consumer price index. A bolivar today only buys NaN% of what it could buy back then.
The inflation rate in 1988 was 29.50%. The current inflation rate compared to the end of last year is now 2,700.00%. If this number holds, $100 today will be equivalent in buying power to $2,800.00 next year.
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| Cumulative price change | 4,481,810,586,303.30% |
| Average inflation rate | 110.27% |
| Converted amount $100 base | $4,481,810,586,403.30 |
| Price difference $100 base | $4,481,810,586,303.30 |
| CPI in 1988 | 379.605 |
| CPI in 2021 | 17,013,168,256,313.000 |
| Inflation in 1988 | 29.50% |
| Inflation in 2021 | 2,700.00% |
| $100 in 1988 | $4,481,810,586,403.30 in 2021 |
Buying power of $100 in 1988
This chart shows a calculation of buying power equivalence for $100 in 1988 (price index tracking began in 1979).
For example, if you started with $100, you would need to end with $4,481,810,586,403.30 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $4,481,810,586,403.30 over time, that means that the "real value" of a single Venezuelan bolivar decreases over time. In other words, a bolivar will pay for fewer items at the store.
This effect explains how inflation erodes the value of a bolivar over time. By calculating the value in 1988 dollars, the chart below shows how $100 is worth less over 33 years.
According to the International Monetary Fund, each of these VEF amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1988 amounts in today's bolivars, based on the 4,481,810,586,303.30% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 bolivar in 1988 | $44,818,105,864.03 bolivars today |
| $5 bolivars in 1988 | $224,090,529,320.16 bolivars today |
| $10 bolivars in 1988 | $448,181,058,640.33 bolivars today |
| $50 bolivars in 1988 | $2,240,905,293,201.65 bolivars today |
| $100 bolivars in 1988 | $4,481,810,586,403.30 bolivars today |
| $500 bolivars in 1988 | $22,409,052,932,016.49 bolivars today |
| $1,000 bolivars in 1988 | $44,818,105,864,032.97 bolivars today |
| $5,000 bolivars in 1988 | $224,090,529,320,164.84 bolivars today |
| $10,000 bolivars in 1988 | $448,181,058,640,329.69 bolivars today |
| $50,000 bolivars in 1988 | $2,240,905,293,201,648.25 bolivars today |
| $100,000 bolivars in 1988 | $4,481,810,586,403,296.50 bolivars today |
| $500,000 bolivars in 1988 | $22,409,052,932,016,484.00 bolivars today |
| $1,000,000 bolivars in 1988 | $44,818,105,864,032,968.00 bolivars today |
How to calculate inflation rate for $100 since 1988
Our calculations use the following inflation rate formula to calculate the change in value between 1988 and today:
CPI today CPI in 1988
×
1988 VEF value
=
Today's value
Then plug in historical CPI values. The Venezuelan CPI was 379.6048032 in the year 1988 and 17013168256313 in 2021:
17013168256313379.6048032
×
$100
=
$4,481,810,586,403.30
$100 in 1988 has the same "purchasing power" or "buying power" as $4,481,810,586,403.30 in 2021.
To get the total inflation rate for the 33 years between 1988 and 2021, we use the following formula:
CPI in 2021 - CPI in 1988CPI in 1988
×
100
=
Cumulative inflation rate (33 years)
Plugging in the values to this equation, we get:
17013168256313 - 379.6048032379.6048032
×
100
=
4,481,810,586,303%
Data source & citation
Raw data for these calculations comes from the government of Venezuela's annual (CPI) as provided by the International Monetary Fund.
You may use the following MLA citation for this page: “Value of 1988 Venezuelan Bolivars today | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2024, https://www.officialdata.org/venezuela/inflation/1988.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Cumulative price change | 4,481,810,586,303.30% |
| Average inflation rate | 110.27% |
| Converted amount $100 base | $4,481,810,586,403.30 |
| Price difference $100 base | $4,481,810,586,303.30 |
| CPI in 1988 | 379.605 |
| CPI in 2021 | 17,013,168,256,313.000 |
| Inflation in 1988 | 29.50% |
| Inflation in 2021 | 2,700.00% |
| $100 in 1988 | $4,481,810,586,403.30 in 2021 |