maracaibo

dan goes to colombia, ecuador, peru, bolivia, brasil, argentina, and venezuela

maracaibo

Postby danmason on Wed Oct 01, 2003 10:57 am

Last night I arrived in Maracaibo Venezuela. This is the second largest city in venezuela. I think Ill catch a bus tonight to Caracas, the capital. Normally I can get the best exchange rate from a ATM via my VISA cards. However, its a little different here in Venezuela. Due to economic problems they have a fixed rate of around 1600 bolivars to the dollar. As far as I can tell, it only applies to ATMs, as they give you better rates in currency change houses. So before I left Colombia, I took out 1,000,000 pesos (US $350). Then changed them at the border for 985,000 bolivars. So I got a rate of 2800 bolivars to the dollar. Much better than the 1600. The only downside is now I have to carry around 900,000+ bolivars in my money belt. Im also subject to to inflation, if it should occur. All in all, I think the gain outweighs the risk. Anyhow, this place closes in 2 minutes, so I gotta run.
danmason
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Postby danmason on Wed Oct 01, 2003 5:10 pm

Looks like change houses here actually only pay 1500 bolivars to the dollar. The only place to get a better rate is at the border, or just on the other side. Im glad I took care of everything ahead of time.


Dan
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