This country is once again in the global discussion after the US arrested Venezuelan President Nicolas Maduro as part of a military operation. Amidst the attacks and political turmoil, people are also paying attention to Venezuela’s economy and its currency. This question is in the minds of many people that despite being a country with the world’s largest crude oil reserves, why is Venezuela’s currency so weak? Meanwhile, if we compare the currency of India and Venezuela, a lot of difference is seen.

India and Venezuela have long had good diplomatic and economic relations. Both countries respect each other’s sovereignty. Venezuela has been an important partner for India in the energy sector. In the year 2024, India had imported about 22 million barrels of crude oil from Venezuela. It is clear from this that Venezuela plays an important role in India’s energy security. In such a situation, when Venezuela’s politics and economy are in crisis, it also impacts the global market and countries like India.

Why did Venezuela’s currency weaken?

The name of the currency of Venezuela is Bolivar, which is called VES internationally. In the last decade, it has been among the fastest falling currencies of the world. Hyperinflation, economic mismanagement and political instability in the country have almost destroyed the strength of the Bolivar. In the year 2017, Venezuela officially accepted the state of default i.e. bankruptcy. After this the confidence of foreign investors was completely broken. Economic sanctions imposed by America and Western countries also worsened the situation. The decline in oil production and the weak condition of the government oil company did not give the economy a chance to recover.

impact on common people

The biggest impact of Bolivar’s weakness has been on ordinary citizens. People have to spend large amounts of cash even for everyday needs. Sometimes prices in shops change several times a day. For this reason, people have started trusting foreign currencies like dollar more.

How much will 10,000 Indian rupees be worth in Venezuela?

If we talk about currency value, then according to the report of Vice.com, 1 Indian Rupee is equal to approximately 3.38 Venezuelan Bolivar. According to this, 10,000 Indian rupees is equal to about 33,850 bolivar in Venezuela. However, this rate does not remain constant. Currency exchange rates in Venezuela often vary depending on market conditions and political circumstances. Still, this figure clearly shows that the Venezuelan currency is very weak compared to the Indian rupee.

Why is there economic crisis despite having oil?

This question often arises that when Venezuela has the world’s largest oil reserves, then why is it so economically weak. The answer is heavy and thick crude oil, which is expensive to extract and process. Also, old technology, lack of investment and international sanctions have limited the earnings from oil.

Also read: Trump’s favorite and Maduro’s staunch opponent… who is Maria Corina Machado, who can get the command of Venezuela?

India has taken an important strategic step regarding the supply of crude oil. Indian Oil Corporation (IOC) has started diversifying crude oil sourcing amid increasing international sanctions on Russia and global supply uncertainties.

In this series, IOC has purchased crude oil from Colombia for the first time.

This deal has been done under the alternative supply agreement with Colombia’s government company Ecopetrol. IOC has purchased 2 million barrels of Castilla Grade crude oil, delivery of which is expected by the end of February.

So far the IOC’s dependence has been mainly on Russia and the Middle East.

According to Kpler, India’s Russian oil imports may decline to 12 lakh barrels per day in December. This change reflects India’s energy security strategy.

Venezuela is a country in South America which is often discussed in global news. The reasons for this vary. Sometimes the policies of the President Nicolas Maduro, sometimes the economic condition of the country, and sometimes the issues of crude oil. Venezuela is the country with the largest crude oil reserves in the world, but despite this, its economy has been in continuous crisis and its currency i.e. Bolivar (VES) has become very weak.

India and Venezuela have good diplomatic relations for a long time. Both countries respect each other’s sovereignty. India also imports oil from Venezuela. India will buy about 22 million barrels of oil from Venezuela in 2024, which means that Venezuela’s economic and energy sector is very important for India. In such a situation, let us know how strong is the currency of Venezuela and how much will 10000 Indian rupees become there.

How strong is Venezuela’s currency?

The name of the currency of Venezuela is Bolivar (VES). In the last few years, inflation has increased a lot and the value of its currency has been continuously falling. This means that people there spend more money even for their daily needs, and the strength of their currency is decreasing. In 2017, Venezuela officially declared bankruptcy. This means that the economic condition of the country was very bad and the confidence of foreign investors decreased. Political tensions with America and other western countries also affect the economy there.

Value of Indian Rupee 10,000 in Venezuela

As of 2025, 1 Indian Rupee (INR) is equal to approximately 3.22 Venezuelan Bolívar (VES). This means that the value of Rs 10,000 in India will be approximately 32,200 to 32,500 VES in Venezuela. This figure may change slightly, as exchange rates vary with time and market conditions. This means that the Venezuelan currency is very weak compared to the Indian rupee.

Also read: These birds are expert in changing color like chameleons, they become invisible as soon as danger appears.

Peeter Navaro, a trade advisor of US President Donald Trump, has once again launched a scathing attack on India. He alleged that India is promoting war by purchasing oil from Russia. He wrote in his latest tweet that India is buying oil from Russia on a large scale, which he called ‘Blood Money’. Navaro says that India had not bought oil from Russia before Russia’s invasion of Ukraine, but is now purchasing in large quantities. He said, “This is blood money and people are dying.”

X did fact check, told Navaro post ‘Hypocritical’
Social media platform X had labeled a post of Navaro by checking the fact and labeling ‘hypocritical’. The fact check note of X said that India’s buying oil from Russia is a legal and sovereign decision. It cannot be considered a violation of international law. This step was linked to India’s energy security. Navaro reacted strongly about this fact check and called it a “waste note” (CR*P Note). He also accused the platform of running “propaganda”.

More Bullshit from X. Fact: India Didn Bollywood Buy Russian Oil in Large Quantities Before Russia Invaded Ukraine. It’s blood money and people are dying. Stick that up your keister mother jones and shame on you. https://t.co/ximzyzdfgo

– Peter Navarro (@Realpnavarro) September 8, 2025

America accused of double standard
It was also reported in an X note that the US imports goods from billions of dollars every year from Russia, which includes fertilizer and uranium. Commenting on this, the users called Navaro’s allegations as double standard. Despite this, Navaro reiterated that India is buying oil from Russia only for profits and this is the way to fund the war machine. He also criticized the policies of the Indian government and said that India does not accept the truth.

India gave a message to further strengthen their relationship with Russia on Thursday (August 21, 2025). Foreign Minister S. Jaishankar met Russian President Vladimir Putin in Moscow and insisted on increasing bilateral trade. The meeting took place when the US has imposed heavy punitive tariffs on India due to buying oil from Russia.

S Jaishankar meets Putin
Jaishankar held a courtesy call to Russian President Vladimir Putin in Moscow. During this time, the two leaders discussed bilateral trade, energy cooperation and strategic partnership. India made it clear that Russia is one of its oldest and trusted colleagues.

Conversation with Lavrov
Before meeting Putin, Jaishankar interacted with his Russian counterpart Sergei Lavrov. The two leaders also held press briefing. When Jaishankar was asked about the tariff imposed by the US, he said that India is unable to understand American argument.

America’s tariff strike
During the tenure of US President Donald Trump, 25% tariff has been imposed on India so far and an additional 25% punitive fee is going to be implemented soon. The US alleges that India has greatly increased oil imports from Russia after the Ukraine War and has also made a profit by “resale”.

Comparison of India and China
India is currently the second largest country to import oil from Russia, while China is ranked first. Despite this, America did not impose any such restrictions on China. On this, the US Treasury Secretary said that China did not increase its imports as fast as India has done.

Jaishankar’s answer
Jaishankar dismissed the American argument, saying, “Americans themselves told us that we should buy oil from Russia to keep the global energy market stable. We also buy oil from America and there has been a steady increase in that purchase. So we do not understand this argument at all.”

India’s independent policy
The Modi government is constantly advocating strong relations with Russia and is also working on normalizing relations with China. It is an indication that India is adamant on its independent foreign policy despite American pressure.

Modi-Putin Dialogue
Recently, after the meeting of US President Trump and Putin, Putin spoke to Prime Minister Modi over the phone. In this conversation, Modi described Putin as a “friend” and the two leaders decided to maintain close contact. Modi once again said that India constantly wants a peaceful solution to Ukraine war.