Payments in dollars, the US currency, have declined alarmingly during the first months of 2025, according to the retail sector in Venezuela.
The sector has pointed out that “the use of US dollars as a payment method in retail stores has fallen by up to 60 %,” according to data from the National Federation of Commerce (Fedecomercio).
This is an alarming trend, reflecting a significant decline in the preference for the dollar for daily transactions, according to José Lossada, president of the association.
Lossada emphasized that in the first four months of the year, “the majority of transactions, approximately 75 %,” were made in bolivars.
This change in Venezuelan payment methods reflects the difficulties people face in obtaining foreign currency from public and private institutions, “in addition to the high costs associated with its acquisition. This sustained trend affects the stability of operations and the financial planning of businesses seeking to adapt to the new market reality.”
M.Pino
Source: elperiodiquito
(Reference image source: Alexander Grey on Unsplash)
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