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Money in SA(venezuela)

Travel Forums Central/South America & The Caribbean Money in SA(venezuela)

1. Posted by stefanel12 (Budding Member 9 posts) 6y

Hi

im from australia and ill be travelling SA next month and i was wondering if im better off exchangin aussie dollars to USD before i go there or ozzie dollars ok
AUD is prettys trong atm, almost as stong as usd...im interested in venezuella and i know they just introduced this 2 tier currency system, basically 2 difff rates for USD...
in venezuella for instance is it betta to exchange dollars on the street(black market) as you apparently get more of their currency instead of banks?
how is aussie dollar treated there....

apparently bolivarz devalued dramatically in the last few weeks....

that would mean its good value for us im guessin....

2. Posted by stupidn00b (Budding Member 47 posts) 6y

I found it easier to withdraw local currency at ATMs once there. I trust banks more than some dodgy bloke in a trenchcoat whispering "cambio" at you as you walk by.

3. Posted by stefanel12 (Budding Member 9 posts) 6y

i know what you mean but the question is what rate id be gettin at atm...apparently u can ger 6 bolivars for usd on black market...makes a difference..

4. Posted by senk (Budding Member 11 posts) 6y

Hello, I'm from Caracas, Venezuela. Thing is if you get money from the ATMs it'll give you the regulated exchange that was 2,1 bsf and is currently on 4,3 bsf, but, if you sell it on the black market you could get even 11 bsf per USD (which in my opinion are easier to sell than AUD). other thing is that lot of changes are happening right now in the country with the currency devaluation so not many people are buying dollars at the moment. but if you wanna try you may find someone that will give you little bit less than 11bsf. as the guy stated above i wouldnt trust the people thats willing to 'trade' your money for bsf either.

you will have to wait and see what happens these days, but selling USD is pretty easy here. I would buy yours myself if all these wasnt going on. since our currency devaluates so fast the only way for us not to lose money is to buy USD every month or so.

also, be aware that this is a very dangerous country and if you dont speak spanish you need to know that people will try to rob you and charge you 4 times the real price on stuff. if you need help with other topic related to Venezuela ill be happy to help. good luck

5. Posted by JonathanU (Budding Member 20 posts) 6y

I suggest bringing your USD with you and exchanging them there. The "black market" is really just going into stores and changing your money, at least that's how I did it. DO NOT change your money on the street, if they offer you a great deal, it's a scam, if they give you tons of small bills, they are going to rip you off. Ask around, I found it easiest to change money in small shops and such, people we friendly, and it was safe that way. Venezuela is dangerous, but just be aware of whats going on and when you do change money, go back to the hostel afterwards and stash the extra cash.

On top of all this, I had more trouble getting cash out of ATMs in Venezuela than any other country in South America

6. Posted by stefanel12 (Budding Member 9 posts) 6y

so it looks like i have to came iwith usd cash since atms are real rip off...

means credit card shoudnt be used as its also charged the lowest possible exchange rate...