exchanging money to Caracas

Ken says on Mar 24, 2009, 15:36:

It´s extremely difficult, unless you live there, to exchange money in large amounts.

I lived and worked for 5 months , and exchanged regularly on the black market. But only through contacts at work.

The official exchange is now 2.15 to 1. The black market range is now 5 or 6 to one. If you use the official rate, it is as expensive as Europe theer, only the service and quality is worse than Bolivia (People are ¨Petro-Spoiled).

My advice is not go there unless you have to until things change; Venezuela is not a tourist country. Colombia is way better.

0 funny, 0 helpful.

jroger21 says on Mar 24, 2009, 16:11:

yeha i live here in Colombia as of now. So are you serious? The black market rate ( the rate it SHOULD be when de-chavezed ) is 5 or 6 Bolivars to one dollar? So If I changed one dollar at Western Union I would only get a crappy 2.15 Bolivars?...

0 funny, 0 helpful.

Ken says on Mar 24, 2009, 16:15:

Yes. And Youl pay 300 Bs a night for a nice hotel- without running water- for example Guadalope in La Puerta.

Sometimes they´ll try and get you to pay 800 or 900 for a crappy hotel- i.e. Hotel Kristoff in Maracaibo.

Venezuela is no tourist destination, unless you have a pre-paid package from NA or Europe to Angel Falls. There are nice areas, but you have to go through a lot of crap to get there.

0 funny, 0 helpful.

jroger21 says on Mar 24, 2009, 16:16:

How do people afford it there then if the rate is so close to the dollar?

0 funny, 0 helpful.

jroger21 says on Mar 24, 2009, 16:16:

what i mean by that is people from there.....

0 funny, 0 helpful.

Conchale Vale!! says on Mar 24, 2009, 23:07:

How much are you thinking of changing monthly? I might be able to help depends on the amount. Are you wanting to receive the B's directly or would you want to have a payment in bolivars made to the account of your employees? I am assuming you do not have a account in Venezuela as it is the same hassle as a opening a account in Colombia. Right now black market rate is about 5.7 or last time I checked. And yes it is very expensive to live daily if you are not getting black market rate as everything is priced on black market rate.

0 funny, 0 helpful.

njc (Dev team) says on Mar 25, 2009, 00:48:

jroger21,

Before thinking about starting a business in Venezuela, you might want to think about doing a little research about the economic situation there. Any cost advantage you might think that you have is likely to be eaten up by spending time with retarded policies.

Speaking of cost advantage, what even gave you this idea? Seeing as you don't even have any metric as to how much it would cost to hire someone there.

0 funny, 0 helpful.

jroger21 says on Mar 25, 2009, 10:29:

No I wouldnt be setting up shop there physically, and people from there would not be my only employees

0 funny, 0 helpful.

C5vzla says on Mar 25, 2009, 13:24:

if it's not too much and only occasional I might be able to help you. PM me.

0 funny, 0 helpful.

Ken says on Mar 25, 2009, 18:27:

To answer your questions:

1. You have to find someone who has an account in the US. Thet will be glad to exchange your dollars for BS at about 5.0 0r so. You would wire from your account to thiers in the US and they would give you the Bs en effectivo.

2. Although everyone in the middle class does it, it is still illegal. I plan to have the option go back there someday, so I really don´t want to get involved. If the other people are gracious , that s OK.

3. To answer how people survive- there is hyperinflation, and the middle calss all have scams by buying and selling cars to take advantage of it, and or have accounts in the US to exchange on the black market. The poor, have to rely on handouts by the government. So in effect, they are having money taken from them with one hand (By artificial exchange rate) and returned with the other (Social programs, and benifits, cheap gas).

Can´t say anymore, as I would like to go back someday (no matter who is in power), although, it will be awhile before the economy recovers there, so anyone who miht be ¨listening¨may forget by then

0 funny, 0 helpful.

Ken says on Mar 25, 2009, 18:30:

Shouldn´t this be in the ¨Venezuela¨ form? (Maybe it is).

0 funny, 0 helpful.

jroger21 says on Mar 25, 2009, 19:10:

Yeah i though i was posting in the Venezuela form but I guess not. Yeah basically I am creating sort of a freelance website for people who are in the IT industry for Latin America and if someone happens to be in Venezuela then i am concerned on how to pay them...

0 funny, 0 helpful.