Isla Margarita Travel Answers

Hi! We have an exchange control in Venezuela, you can't freely exchange Bolivars for US$, but you can change US$ for Bolivars whitout problem. I strongly suggest you to exchange only at exchange houses or banks in Venezuela, I haven't heard of that companies, but consider that the exchange rate is fixed to 2.150, so anyone offering you more than that will be in violation of the exchange control and therefore not 100% trustable as that would be considered black market.

Bolivars is a closed currency, that means you can only buy them when you are there and I don't think you can take them out of the country, either.

I'm afraid your answer about not being able to buy Bolivars outside the country is inaccurate. When I visited Margarita on Feb 21 of this year, I purchased Bolivar at my local airport (Toronto Int'l). As far as "excellent" rates, as mentioned there is a government controlled exchange rate. It's up to you as to how you go forward by either buying through sanctioned venues (banks, exchange offices) or through private individuals. I personally wouldn't want to find out what the inside of a Venezuelan prison is like.

WARNING TO OTHERS!!! We have just returned from holiday in Margarita and me and my family brought, in total just over £600 worth of bolivars back to the UK with us and have just found out no one can change them back. WHY WEREN'T WE INFORMED OF THIS??? Not one person mentioned this to us, which we find unbelievable. We werent told when we booked the holiday or by the rep or anyone else in the hotel or other holidays makers. Can anyone suggest somewhere that can change them back for us? :-(

I had heard that from other vacationers when I was down there and made sure to not be bringing any more back with me. Although, even when that wasn't the case the previous year I still didn't bring any back given the unstable economy. I would post in the Margarita forum asking if anyone in the UK close to where you live is heading over there soon and see if you can sell it to them. If you do plan on going back, you could always save it until then. I think your mistake (as unfortunate as it is) is a good lesson for all reading this. Unless you are dealing with a major world currency, it is best to only convert to cash as you need it while you are on vacation.

Plus, as you can see two postings above yours, this issue was discussed. How was the holiday otherwise?

Thanks for your reply Graeme, Yes we had a brilliant time thanks and we did mention while we were there that we would like to go there again. Yes you are right, we won't be making this mistake again and have learnt a valuable and costly lesson from it. What is so hard to believe not 1 person mentioned this to us!! Even the "useless" rep.