Venezuelan Prostitutes Earn More as Currency Traders Than Sex

International By: Tad Lumpkin 2:26 pm

(Bloomberg)- The arrival of a Liberian-flagged freighter with Ukrainian, Arab and Filipino sailors spells one thing for Elena — dollars. And greenbacks are king in Venezuela, the 32-year-old prostitute says.

Within hours of hearing of the ship’s imminent arrival, she has packed her bags and is heading to the crumbling city of Puerto Cabello. It is a 450-kilometer (280-mile) journey from her home in the Western state of Zulia that Elena finds herself doing more often now as Venezuela’s economy contracts, the bolivar slumps and prices soar.

Prostitutes more than double their earnings by moonlighting as currency traders in Puerto Cabello. They are the foreign exchange counter for sailors in a country where buying and selling dollars in the streets is a crime — and prostitution isn’t. Greenbacks in the black market are worth 11 times more than the official rate as dollars become more scarce in an economy that imports 70 percent of the goods it consumes.

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SOURCE: Venezuelan Prostitutes Earn More as Currency Traders Than Sexhttp://www.bloomberg.com/news/2014-06-09/venezuela-prostitutes-earn-more-selling-dollars-than-sex.html

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