Visitors should be aware that there is a very active black market
for US dollars. The official exchange rate in November of 2004 was 1930 Bs
per US dollar. And yet the black market exchange rate would bring 2400 to 2500
Bs per US dollar. That's a very significant difference. My personal
experience is that American Express Traveler's Checks can get a nearly
equivalent exchange rate with the adventure tour companies if used to pay
for an excursion. But I wouldn't expect that exchange rate on the street.
All in all, this suggests that you're much better off bringing US dollars to
Venezuela than relying upon an ATM for cash.
I hope you enjoy my photos of Caracas, Venezuela.
