Sun, Jun 05, 2016 - Page 14 News List

Oil-rich Venezuela scrabbles for dollars, food, medicine

Venezuelans sometimes have to wait up to a year to get their hands on US dollars by official channels, amid inflation forecast to hit 700 percent this year and a bolivar that has fallen 60 percent since February

By Ernesto Tovar  /  AFP, CARACAS

Getting hold of US dollars by official means is a long and hard process.

First a customer must register on the exchange bureau’s Web site to request the US dollars, Guevara said.

After that, they might have to wait up to a year, he said.

The exchange bureau issues no more than US$300 a day overall.

One foreign exchange clerk, who asked not to be named, said he was skeptical about the real impact of the exchange measures.

“It doesn’t matter what one bolivar or a hundred bolivars is worth, because there aren’t any dollars anyway,” the clerk said.

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