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Bookmark & shareVenezuela is a moderate to high priced country by Latin American standards. Caracas is not well set up for budget travelers, though prices drop outside of the major cities.
Money Preferred Form
The US dollar is by far the most popular form of international currency so stick with the greenback, though euros and pound sterling can be exchanged at some places. If carrying travelers checks, American Express is best. Visa and MasterCard credit cards have the best coverage for both cash advances and for making payments in hotels, restaurants and some shops.
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Currency
- Name
- Venezuelan bolívar
- Symbol
- Bs
The unit of Venezuelan currency is the bolívar, abbreviated to B. There are paper notes of 1000, 2000, 5000, 10,000, 20,000 and 50,000 bolívares. In March 2007, President Chávez announced his intention to rename the bolívar to 'bolívar fuerte' (strong bolívar) and to remove three zeros from the currency, so that one bolívar fuerte would equal 1000 bolívares. Intended for January 2008, the move is intended to ease growing inflation problems.
There are currently 50, 100 and 500 bolívar coins.
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Changing Your Money
US dollars and travelers checks can be exchanged in banks and casas de cambio (cash exchange offices) in main towns and cities. There is a thriving black market for US dollars and euros and many people will ask you to change currency in airports, bus stations or the center of towns. You can get a much better rate with these money traders, but do so at a higher risk of getting ripped off.
(ATMs) are the easiest way of getting cash. Most ATMs are linked to Cirrus and Plus and should accept international Visa and MasterCard. Beware that lines for ATMs can be very long, especially the first Monday of the month, when many banks are closed, and the day before holiday weekends, when machines are often cashed-out by mid-morning. -
Money Tips
Be mindful that notes of various denominations have similar colors and are easily confused. Before you travel, check an exchange rate site such as www.xe.com to see where the bolívar stands versus your currency.
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Sample Price Guide
- fixed price lunch
- US$ 2.00-4.00
- 1L bottled water
- US$ 0.60
- Local phone call
- US$ 0.10
- Arepa
- US$ 1.00-2.50
- short taxi ride
- US$ 2.00-4.00
- souvenir t-shirt
- US$ 5.00-10.00
- small bottle of beer
- US$ 0.30
Average Room Prices
Low Mid High Deluxe US$7-15 US$20-50 US$50-100 US$100+ Average Meal Prices
Low Mid High Deluxe US$1-2 US$2-5 US$5-10 US$10+ -
Tipping
Tipping is not obligatory or expected but leaving a tip of up to 10% in upmarket restaurants is usual.
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Disclaimer: We've tried to make the information on this web site as accurate as possible, but it is provided 'as is' and we accept no responsibility for any loss, injury or inconvenience sustained by anyone resulting from this information. You should verify critical information (like visas, health and safety, customs and transportation) with the relevant authorities before you travel.
