Venezuela's currency bolivars fell to 616 to one dollar in the black market on Saturday , 1/98 of the official exchange rate , causing panic buying and wide- spread hoarding in the nation.

According to local media, the government has already started to install some 20,000 fingerprint scanners at supermarkets nationwide to stamp out hoarding and panic buying.

With the black market exchange rate, the average monthly salary of Venezuela people now is only 12 US dollars.

 People’s only choice is to spend all they earn to buy daily necessities, prompting the government to take action to limit the amount of commodities they can buy.