In Venezuela, the reign of the dollar

Audio 7:30 p.m.

In Caracas, the price of a generator is indicated in dollars in a store, on December 12, 2019. Reuters / Manaure Quintero

By: Benjamin Delille Follow

In Venezuela, the dollar is becoming the national currency by default. With hyperinflation, which was around 9,500% in 2019 according to the Venezuelan Central Bank, residents who can do so are turning away from the bolivar and are increasingly using foreign currencies, especially the US dollar.

Publicity

In parallel with a free-falling Venezuelan economy, an informal, dollarized economy is developing, which offers the wealthy an illusion of prosperity after months of shortages and deprivation. For the poorest, who do not have access to the green ticket, nothing works out.

"In Venezuela, the reign of the dollar", it is a great report signed Benjamin Delille.

Newsletter With the Daily Newsletter, find the headlines directly in your mailbox

subscribe

Download the app

google-play-badge_FR

  • Venezuela
  • Coins
  • Economy

On the same subject

In Caracas, Lavrov condemns US sanctions against Venezuela

Venezuela: economy, in free fall, benefits the dollar

In Venezuela, pastoralists can no longer produce enough because of the crisis