CARACAS, Venezuela – Residents of one neighborhood in cash-strapped Venezuela say they've found a solution to a lack of paper money by creating a quasi-currency called the "honeycomb."
Homemaker Liset Sanchez said Friday that she welcomes the idea promoted by pro-government groups. She has trouble finding cash to buy simple things, like rice.
Oil-rich Venezuela is experiencing a run on cash from soaring, triple-digit inflation and currency meltdown.
One honeycomb is worth about 5,000 bolivars, or 5 U.S. cents on the commonly used black market.
A project developer Salvador Salas says a small number of ones, fives and tens honeycomb bills are circulation in one poor neighborhood of Caracas.
However, opposition politician Jose Guerra calls it a bad idea.
He says having multiple currencies could add chaos to the existing economic crisis.
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