Use of foreign currency has increased in the South American country since the government of President Nicolas Maduro relaxed economic controls in 2019, helping some businesses, but inflation of the bolivar, the official national currency, remains at 222% and recovery has been uneven. State employees, whose salaries are paid mainly in bolivars and only sporadically increased, are the most affected. In the private sector, at least 63% of salaries are paid in dollars, according to the Venezuelan Finance Observatory, an independent economic research firm. By Mayela Armas and Anggy Polanco. Full Text -> Yahoo!Finance

Traducción de cortesía -> El uso de divisas ha aumentado en el país sudamericano desde que el gobierno del presidente Nicolás Maduro relajó los controles económicos en 2019, lo que ayudó a algunas empresas, pero la inflación del bolívar, la moneda nacional oficial, se mantiene en 222 % y la recuperación ha sido desigual. Los empleados estatales, cuyos salarios se pagan principalmente en bolívares y solo se incrementan esporádicamente, son los más afectados. En el sector privado, al menos el 63% de los salarios se pagan en dólares, según el Observatorio Financiero de Venezuela, una firma independiente de investigación económica

The aim is to incorporate $3 billion circulating on the streets of the South American country into its financial system, but experts warn it is a risky gamble. Distrust in the bolivar due to severe devaluations, demonetization and four years of hyperinflation persists, despite a slow down in price rises and economic recovery following seven years of recession in which GDP fell by 80 percent. Full Text -> RadioFranceInternational

Traducción de cortesía ->

El objetivo es incorporar a su sistema financiero los 3.000 millones de dólares que circulan por las calles del país sudamericano, pero los expertos advierten que es una apuesta arriesgada.Persiste la desconfianza en el bolívar debido a las severas devaluaciones, la desmonetización y cuatro años de hiperinflación, a pesar de la desaceleración de las alzas de precios y la recuperación económica tras siete años de recesión en los que el PIB cayó un 80 por ciento.

Traducción al español -> Google Translación

But the Socialist regime, always reluctant to fully turn its economy over to the dollar, is now making a surprise bid to revive the local currency. Emboldened by surging oil exports that are fueling economic growth and helping keep the foreign-exchange rate steady, the government is pushing Venezuelans to use the bolivar more by slapping a 3% tax on purchases made with dollars in shops, restaurants and grocery stores.  One study done by a private firm indicates there was a slight shift away from the dollar in the days after the tax took effect. By Nicolle Yapur. Full Text -> Bloomberg News

Traducción de cortesía -> Pero el régimen socialista, siempre reacio a volcar completamente su economía al dólar, ahora está haciendo una oferta sorpresa para revivir la moneda local. Envalentonado por el aumento de las exportaciones de petróleo que están impulsando el crecimiento económico y ayudando a mantener estable el tipo de cambio, el gobierno está presionando a los venezolanos para que usen más el bolívar al imponer un impuesto del 3% sobre las compras realizadas con dólares en tiendas, restaurantes y supermercados. Un estudio realizado por una empresa privada indica que hubo un ligero cambio de dólar en los días posteriores a la entrada en vigor del impuesto.

Traducción al español -> Google Translación

The study from Anova Policy and the Venezuelan Finance Observatory, which gathered data from 354 establishments in Caracas, found that 34.3% of foreign-currency cash payments accounted for 34.3% of purchases made this month in supermarkets, pharmacies, hardware stores, and other businesses, up from 27.5% in December. Remaining payments in foreign currency were made with cards or via bank transfers, the report said. Full Text -> Yahoo!Finance

Traducción de cortesía -> El estudio de Política Anova y el Observatorio Financiero de Venezuela, que reunió datos de 354 establecimientos en Caracas, encontró que el 34,3% de los pagos en efectivo en moneda extranjera representó el 34,3% de las compras realizadas este mes en supermercados, farmacias, ferreterías y otros negocios. , frente al 27,5% de diciembre. Los pagos restantes en moneda extranjera se realizaron con tarjetas o mediante transferencias bancarias, consigna la información. Traducción al español -> Google Translación

People can now buy groceries, medications and other goods that for nearly a decade were impossible to find, thanks to the informal dollarization of the economy and the partial lifting of price controls and import tariffs by President Nicolás Maduro’s government. After years of deprivation, near economic collapse and political chaos, this shift has improved the quality of life for many people across Venezuela. Using the dollar instead of the local currency, the bolívar, has its drawbacks, but it has brought fragile stability, for now. By Virginia López Glass. Full Text -> TheNewYorkTimes

Five years ago, before moving to Venezuela, I went to see a friend in London who knew the country well, hoping to glean some of his insight. As we sat in his office, the dome of St Paul’s glistening in the distance, he uttered some wise words which have stayed with me. “You will keep thinking the government is going to run out of money. But it never quite happens.” By Stephen Gibbs. Full Text -> The Times

There’s now a group of Venezuelan banking institutions that have been providing debit cards to customers who maintain accounts in “hard currency” like the US dollar and other more stable currencies. Meanwhile, Venezuela’s Bolivar has become practically worthless due to record levels of hyperinflation caused by rampant corruption among other issues like the crippling US-led sanctions. The decision to issue these types of debit cards has been “quietly” backed by the nation’s authorities who may want to extend the use of US dollars in everyday transactions, the sources claim.By Omar Faridi. Full Text -> CrowdfundInsider

“One dollar, one dollar!” Carlos Sifontes yells at the top of his lungs while he goes through San Jacinto, in downtown Caracas, hauling a cart with Corn Flakes and Frosted Flakes cereal boxes piled on top of each other. A group of people come up to him and ask him “what’s your exchange rate?” to which Mr. Sifontes answers: “Thirteen hundred (bolivars per dollar), for now.” One of the girls offers him 100 bolivars below the price and he rejects the bid, saying that “one dollar is money, but with 1,200,000 bolivars you can’t even get a coffee.” By Génesis Carrero Soto. Full Text -> CaracasChronicles

Some banks in Venezuela began to deliver debit cards to those who maintain accounts in dollars in the country with permission from financial authorities, a measure that attempts to facilitate routine electronic payments without reaching a formal dollarizationfour sources from the financial sector told .. For more than a year several local banks they save dollars in cash from corporate clients in their vaults, under the flexibility of the controls that were applied for almost two decades. The institutions also seek to provide services in a nation where hyperinflation increases payments with foreign currency bills. Full Text -> Explica

 A group of Venezuelan banks have started issuing debit cards to clients who have accounts in hard currency, a move quietly backed by authorities who want to extend the use of dollars in routine transactions, sources familiar with the measure said. By Corina Pons and Mayela Armas. Full Text -> FinancialPost