With the the Venezuelan exchange rate “seesawing” the consumer “pays the price”

With the the Venezuelan exchange rate “seesawing” the consumer “pays the price”

Courtesy

 

Merchants in the northern area of Anzoátegui State request that inspections be extended to suppliers and wholesalers, to supervise the erratic fluctuation of prices caused by the exchange rate differential and its unceasing change.

Corresponsalía lapatilla.com





With inventory at full capacity and prepared for the start of the Christmas shopping season, merchants report high costs to acquire merchandise given that distributors impose the use of the parallel (black market) exchange U.S. dollar rate.

These transactions, subject to black market quotes, generate price increases on recently acquired merchandise, since prepaid invoices arrive with increased prices every week, which could generate stock problems in some products.

Wael Raad, president of the Chamber of Commerce of Anzoátegui State, says he has received multiple complaints from retailers about the use of unofficial exchange rates as established by wholesalers that do not correspond to the official rate (BCV).

“There are many complaints about the suppliers who sell the merchandise to them. When they go to pay in bolivars, they charge substantially higher rates,” Raad told the regional media La Columna.

Nevertheless, they state that one of the least affected sectors is the food sector, due to the high demand and rotation of products.