Money
Currency: Bolívar (Bs) = 100 céntimos. Notes are in denominations of Bs50,000, 20,000, 10,000, 5000, 2000, 1000, 500, 100, 50, 20, 10 and 5. Coins are in denominations of Bs500, 100, 50, 25, 5, 2 and 1, and 50, 20, 10 and 5 céntimos.
Currency exchange: Banks will change cheques and cash, and cambios will change cash only; as will hotels, although often at a less favourable rate.
Credit & debit cards: Visa, American Express and MasterCard are widely accepted; Diners Club has more limited acceptance. Check with your credit or debit card company for details of merchant acceptability and for other facilities which may be available.
Travellers cheques: Widely accepted, although one may be asked to produce a receipt of purchase when changing them in Venezuela. Exchange is more difficult in some places than others. Some kinds of travellers cheques are not accepted; seek advice before travelling. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars.
Currency restrictions: The import and export of local and foreign currency is unlimited.
Exchange rate indicators
The following figures are included as a guide to the movements of the Bolívar against Sterling and the US Dollar:
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 1460.94 | 2115.95 | 2106.89 | 2544.42 | | $1.00= | 1002.50 | 1391.25 | 1332.30 | 1598.00 |
Note: The above rates are the official rates for non-commercial transactions. ‘Essential Import’ and ‘Preferential’ rates are also used.
Banking hours: Mon-Fri 0830-1530.
Copyright © 2003 Columbus Publishing Ltd.
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