Picture:
Picture:
FEDERICO PARRA/AFP/Getty Images

Street vendors in Venezuela are creating woven goods from banknotes following hyperinflation in the Latin American country.

Inflation is so high prices have been doubling every 35 days in the country.

Closeup of the strap of a purse made by Venezuelan Wilmer Rojas, out of Bolivar banknotes in Caracas on 30 January 2018. (Picture:Closeup of the strap of a purse made by Venezuelan Wilmer Rojas, out of Bolivar banknotes in Caracas on 30 January 2018. (Picture: FEDERICO PARRA/AFP/Getty Images)

The Venezuelan Bolivar has, the Wall Street Journal reports, lost 98 per cent of its value against the dollar. The Journal reports the US dollar is currently worth 236,000 Bolivars on the black market.

Five years ago that figure would purchase a small apartment, now it barely covers a snack for lunch.

Cash is worth so little in the country that banknotes have become fodder for crafts.

Wilmer Rojas, a 25 year old father of three has been making origami-style handbags, purses, hats and baskets with his money (see above).

The creations can take hundreds of bolivars to make, but sell for hundreds of thousands - enough to purchase some food and goods.

Meanwhile designer Jose Leon, 26, draws Star Wars figures on notes for art.

Devalued Bolivar bills painted by Venezuelan illustrator Jose Leon at his workshop in San Cristobal, Venezuela on 2 February 2018. (Picture:Devalued Bolivar bills painted by Venezuelan illustrator Jose Leon at his workshop in San Cristobal, Venezuela on 2 February 2018. (Picture: GEORGE CASTELLANOS/AFP/Getty Images)

He sells them to foreign customers who will pay him up to $20 for the money art.

This can increase the value of the note by 5,000 per cent.

Inflation in Venezuela has been runaway since early 2017.

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