We made it!
Shayne, my wise economics-minded friend, predicted in May that the parallel rate would reach 1000 before the new year. He’s off by a month, but only because the elections went so well. Since I am admittedly not able to expound the intricate cause/effect relationships inherent in macro economic systems, I can’t say why a sweeping victory by the opposition coalition would stave off the parallel rate’s steady rise to the stratosphere. But it did, and I suppose it makes sense (not that anything regarding the Venezuelan economy actually makes any sort of sense).
1000 is no reason to celebrate. 1000 is an arbitrary (yet significant) milestone. The folks at Caracas Chronicles wrote intelligently about it. 1000 dollars to most people is a lot of money. 1000 bolivares to 1 dollar is a harbinger of default/hyper-inflation/collapse.
The one and only benefit is that it makes the mental math easier when we go to buy whatever we can find to buy.