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changing dollars in Venezuela

Travel Forums Central/South America & The Caribbean changing dollars in Venezuela

1. Posted by sdaltrey (Budding Member 68 posts) 9y

sdaltrey has indicated that this thread is about Venezuela

I hear that you should change your dollars in Venezuela at local shops or even with money changers that you may find in the street. I found money changers common in Ecuador and Peru and it seemed quite the norm. I hear that it´s illegal here. Do they give you a better rate? Do they change all dominations of dollar and what condition must the notes be in?

When paying for hostels or excursions do they quote in Bolivars or in Dollars? If you pay in dollars do they give you a nice exchange rate.

thanks,

Steve

2. Posted by LexiMStL (Budding Member 13 posts) 9y

Hi There,

Ok, first, I'd like to say...CHANGING DOLLARS ON THE BLACK MARKET IS ILLEGAL. Lol

Many people do this, although I am not sure about the actual locations who exchange on the black market rate. I live in Valencia and I have never seen one of those places. As far as I know, it's pretty much individuals who buy dollars. It is extremely common to find someone looking for dollars. And yes, the black market rate is significantly higher than the bank rate.

Keep in mind...if you were getting a better rate then the bank rate in Ecuador and Peru, then it was most likely illegal there as well. Did that stop anyone? No.

I can't really answer your question re: the hotels or excursions. Sorry, I haven't had a chance to do the tourist thing here yet. Lol.

Hope that helps!

3. Posted by luiale (Budding Member 13 posts) 9y

i dont recommend you to change dolars in the street... because in first place is not legal, sometimes they dont change you the dollars at the right price... you shoul go to a bureau de change well, money exchange. That's the better alternative... if you need some help, just ask me! ok? take care!:)

4. Posted by luiale (Budding Member 13 posts) 9y

By the way, yes, in some places i mean, hotels, hostals and acommodation that give you a better rate in change, but in others the dont, is just thing of luck!

5. Posted by bureado (Budding Member 7 posts) 9y

1. It's illegal.
2. They give you a better rate, of course. They'll always give you a better rate. Official rate is 2150 VEB per USD, black market rate may range up to 4000 VEB per USD, sometimes people get "ripped off" at 2500 VEB per USD.
3. Usually they change only bank notes, no coins, starting from 10 USD.
4. These people hang around airports and hotels.
5. All prices in Venezuela are payable in VEB. If you're being asked to pay in USD, they're trying to rip you off. They might quote in USD, but then you should pay in VEB at the official rate of 2150 VEB per USD -- no more than that.

Jose

6. Posted by sdaltrey (Budding Member 68 posts) 9y

I just received an email from a company in Merida that do excursions. On asking for prices they said "Price to pay in dollar or in bolivares at the rate of the black market." Is this common?

Steve