Skip to content
Subscriber Only

Dollar Shortage Bites Venezuela as Devaluation Seen

Venezuelan Daniela Toledo knew exactly what to ask for as a gift when her boss went on vacation to the Caribbean.

Instead of a carton of duty free cigarettes or a bottle of whisky, Toledo wanted a stick of her favorite deodorant, which she’d been unable to find at home. A complex system of official and unofficial exchange rates, a legacy of the late former President Hugo Chavez’s 14-year rule, has left Venezuela with a shortage of dollars and stores empty of basics from toilet paper to medicine.