Venezuela Is Now More Than 50% Dollarized, Study Finds
- Electricity blackouts leave credit card readers useless
- Many Venezuelans now rely on remittances from relatives abroad
A tip jar filled with U.S. dollars and Venezuelan bolivares at a coffee shop in Caracas on June 5, 2019.
Photographer: Adriana Loureiro Fernandez/Bloomberg
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Venezuela’s economy is increasingly dollarized, with more than half of retail transactions now being carried out in U.S. currency, a study found.
An estimated 54% of all sales in Venezuela last month were in dollars, according to a survey by Econoalitica, a Caracas-based research firm.