Runaway Inflation Forces Venezuelans to Pay for Christmas in Dollars
- More and more vendors demanding greenbacks for their wares
- The dollar has gained 3,500% just his year against the bolivar
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Venezuelans working through their Christmas shopping lists at malls and neighborhood markets are increasingly being forced to pay in U.S. dollars.
While imports such as car parts and electronics have been long been priced in greenbacks -- even though it’s against the law -- the massive depreciation of the Venezuelan bolivar and skyrocketing inflation are pushing even small shop owners to now demand foreign currency for nearly everything they offer. Tomomi Nakada, who sells imported sportswear at holiday bazaars around Caracas, began pricing all of her goods in dollars this year.