Downtown Caracas is packed with cheap restaurants, and sidewalk vendors who sell cachapas (small corn pancakes) and arepas, which are handy if you're sightseeing. Come evening, Altamira and Los Palos Grandes are the best places to eat, both for reasons of local safety and good quality.
Looking for a cheap bite when most restaurants are closed? On Sundays from 8am until 4pm or 5pm, follow the caraqueños to the bustling Peruvian market for a heaping plate of Peruvian cuisine. For about BsF55, fill up at one of the table buffets serving dishes like causa rellena (potato dish stuffed with chicken, tuna or other fillings), chicken and rice, quinoa salad and ceviche, and don’t skimp on the cancha (toasted corn kernels). Or you can shop for purple potatoes, get a bottle of homemade chicha (nonalcoholic corn drink) and watch the musical performances.
The weekly market is outside the Colegio de Ingenieros metro (between the Bellas Artes and Plaza Venezuela stops); exit at Av Libertador Sur/Blvr Santa Rosa and then turn right.