Venezuela | Venezuelans, more concerned about the Christmas economy than about the deployment of the United States

“There are a lot of people on the street, but you don’t see much stock market. You can see that the economy is a little strong. The money doesn’t work for you,” María Da Silva, a merchant of Portuguese origin who has worked for forty years in the popular market of Quinta Crespo, one of the main ones in Caracas, told EFE.

The merchant pointed out that, although people are buying, especially the ingredients for the hallacas – the traditional food of the Christmas in the country, prepared with a corn dough filled with a stew of beef, pork and chicken, as well as with olives, raisins and capers, among others -, they make it in small quantities so that it yields the money.

“One hundred grams, there are those who buy the kilo or half a kilobut little by little amounts,” he commented.

For this reason, he explained, this year “the profit is little” for the sellers, although they continue to receive customers. Da Silva, 70 years old, attends to his post daily in the market. He used to have employees, but he can no longer keep them. “The economy went down,” he said.

at home They didn’t cook hallacas, nor will there be many gifts. “What I made are bollitos (dough tamales without filling). Clothes and gifts, just gifts for my grandchildren,” he said.

Asked about the impact of the American deployment, she declined to comment: “I don’t know what to say.”

High prices

The increase in prices, according to those interviewed, has a greater impact depending on the payment currency.

“Dollars (in cash) very few. If you get one, it’s very rare,” Zulay Salazar, a vegetable seller in the same capital market, told EFE.

Most clients, she indicated, pay with a debit card the prices that she sets in dollars, but that she charges in bolivars at the official rate of the Central Bank of Venezuela (BCV).

So far in 2025, the bolivar has lost 84.8% of its value compared to the dollar, whose official price began the year at 52.02 bolivars and closed this week until December 26 at 342.93 bolivars, which represents an increase of 559.3% in the US currency.

About the tensions with USASalazar assured that he does not expect it to affect him.

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“Perhaps the first days (…) we did hear a lot that people were nervous,” but now, he added, people “don’t pay attention” to the issue.

Different currencies

In addition to the official exchange rate set daily by the BCV, there is a parallel market whose value, which is variable, is used by some merchants as a reference. Therefore, prices may change depending on the payment currency.

“Here we quote in bolivars. If they ask us (ask) how much we put in the dollar, it becomes cheaper. It is lowered a little more,” Yueskerlys Pérez, who offers ingredients for the hallacas, told EFE.

Despite the crisis, He assured that this year “people have bought a lot”.

Asked about the possible economic impact of the crisis with the US, she simply responded: “No, no, everything is fine.”

For its part, Rafael Ayola, toy seller, explained to EFE that in his business they have “promotions in foreign currency,” but they also receive bolivars “at a good rate.”

The tensions with the US do not worry him, because “no one is going to stop buying Baby Jesus (Christmas gift) for their children.”

“If you pay in dollars it is at one (exchange) rate, if you pay in bolivars it is at another rate. So there is a variety of prices,” Yetzenia Zambrano agreed in statements to EFE when she was buying “food, new (clothing) items and toys” for her children.

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He stated that this is “everyday life” in the South American country. “What happens is that there is much more pressure from shopping in December, than the premieres, than the gifts, than the lunch, than the dinner, it is mostly seen because there are several purchases at the same time.”

In his opinion, the conflict with the US does not have a great economic impact, but it does have a “mental impact.”

“They are afraid of a blockade, that (due to) the blockade they will not receive foreign currency, but since they are talking about a blockade there is much more foreign currency income than before. 10 years, 15 years ago, buying currency was illegal”, he noted.