Venezuela’s Currency Is a Boon to Smugglers

Colombians in Cúcuta, on the border with Venezuela, dine on smuggled chicken, rice, and pasta, brush their teeth with smuggled toothpaste, and wash their hair with smuggled shampoo.

This bounty comes courtesy of the socialist government of Venezuelan President Nicolás Maduro, which keeps consumer goods, gasoline, and food cheaper than anywhere else in South America. Prices are low, but the shopping lines take hours to shuffle through, the choice is limited, and supplies short. The variety and quantity might be better if not for crooked Venezuelan officials with access to subsidized produce and goods. (Individual Venezuelans also smuggle.) They’re selling to Colombian merchants who pay more than the regulated prices set by the Caracas government. The Colombians also pay in pesos, rather than in bolivars, Venezuela’s currency. The bolivar has slumped about 60 percent on the black market since September, following the plunge in the price of crude oil, the country’s main export. Venezuela’s Information Ministry didn’t reply to e-mails and phone calls seeking comment.