Money

1. Currency exchange

The American embassy suggests that tourists carry minimal U.S. currency as they can. This is because a below average security situation may not be conducive to changing large amounts of money at the airport up on their arrival. Carrying a major credit card is advisable. Travelers' checks can be exchanged easily, but are not honored at many places. Tourists can exchange currency at standard exchange offices, known as Casas de Cambio. Commercial banks exchange money but this is not immediate. Exchange at commercial banks needs approval of the Commission for Administration of Foreign Currencies. This calls for registration by tourists and effectively delays the process. As per exchange control systems that the Venezuelan Government adheres to, travelers are likely to get exchanges for U.S. dollars into Bolivares at exchange houses and commercial banks but a reversal is not as likely. When in fringe areas and smaller cities it is important to carry adequate cash, as it is difficult to locate exchange houses. Travelers may encounter individuals who exchange Bolivares for U.S. dollars but at a considerably higher rate than what is official. The parallel market trade is officially outlawed as per Venezuelan foreign exchange regulations. Such activities are always under scrutiny and travelers may end up in a soup. Credit cards are acknowledged but foreign exchange controls have put limitations on credit card acceptance in certain areas. Visa, MasterCard and American Express can be used. Credit card frauds are on the high and travelers should be cautious to prevent unauthorized charges to their card. The bigger cities have numerous ATMs where cash can be withdrawn but some reject U.S.- issued debit cards. PLUS and Cirrus systems allow withdrawal of Bolivares against tourists home bank account. They are sold at the official exchange rate. When changing travelers' checks, tourists could expect to pay an additional 1% to 5% fee.

2. What a Dollar Will Buy You

Hotel rentals US$15 and $30 per night.

Meals at local restaurants US$7 - $20.

Beer and soft drinks 50c for a 222ml bottle.

A liter of rum US$3.5.

At nightclubs US$10 and sometimes this suffices as the cover charge.

Movie ticket US$2-10,

Bus charges US$2 for an hour long journey,

Regular bus rides 50c.

3. Telecommunications

Venezuela's state telephone company is CANTV. International calls can be made with ease but are expensive, however, in major tourist cities, certain private offices make available cheaper overseas call rates with call back systems. Public phones are plentiful and can be found even in the most remote areas and they all recognize CANTV cards. Telephone cards can be bought for 2000Bs, which is about one USD, and 5000Bs. These can be bought from CANTV offices, supermarkets and retail shops. When venturing into distant places within Venezuela it is advisable to buy calling cards in advance in order to avoid inconvenience. The major mobile phone service providers are TELCEL and MOVILNET. CANTV has a dedicated customer care line that can be reached by dialing 103. Operators may or may not speak English so it is important to ask for someone who speaks the language.

City codes for cities in Venezuela

Caracas 0212

Maracay 0243

Acarigua 0255

Maturin 0291

Barinas 0273

Mérida 0274

Barquisimeto 0251 Porlamar 0295

Ciudad Bolívar 0285 Puerto La Cruz 0281

Cumaná 0293

Puerto Ordaz 086

Maiquetía 0231 San Cristobal 0271

Maracaibo 0261

Numbers to dial from Venezuela for overseas collect calls

Argentina 800-1-1540 Hong Kong 800-1-1852

Australia 800-1-1610 Israel 800-1-1972

Belgium 800-1-1320 Italy 800-1-1390

Bolivia 800-1-1591 Japan 800-1-1810

Brazil 800-1-1550 Panamá 800-1-1507

Canada 800-1-1100 Perú 800-1-1510

Colombia 800-1-1570

Portugal 800-1-1351

Costa Rica 800-1-1506

Puerto Rico 800-1-1120

Chile 800-1-1188 Spain 800-1-1034

Dominican Republic 800-1-1184

United Kingdom 800-1-1440

Ecuador 800-1-1593 United States 800-1-1120

France 800-1-1330 Uruguay 800-1-1598

Germany 800-1-1490

4. Cab Fares

Cab fares between the airport and city center of Caracas amounts to about US$20. The taxi board calls for a fixed-price system but some drivers' demand their own rates. This should be ascertained before hiring a cab. Cab fares on regular routes and to regular tourist spots, cost between US$2 and $10.

5. Currency Exchange Rates

1. USD = 2,147.30 VEB (Venezuela Bolivares)

1 VEB = 0.000465701 USD

6. Taxes

Tourists are required to pay 16% sales tax on all expenditures. This includes money spent on goods and services. The government has imposed a 1% tourism tax for tourism-related expenses, such as hotel room rentals, plane tickets and tours. This practice however, is not very profitable for the government as the enforcement of the rule is poor. It becomes all the more difficult, as the government may not always be able to bring cash transactions and accounts at budget and low end facilities under inspection. The exit tax and airport fee has to be paid during departure. The exit tax is about 29,400 Bolivares and airport fee is around 73,500 Bolivares. A total of about $50 suffices. For the non-US airlines, exit tax and airport fee are not added to the ticket price and need to be paid at the airport upon leaving. Authorities may require the departure tax to be paid in local currency. These taxes are likely to fluctuate without prior notice.

7. Tipping

A majority of restaurants add a 10% service charge on bills. Depending up on the level of service, tourists may choose to leave another 5% to 10% in cash as tips. Tipping the hotel staff is a conventional practice. Many taxi drivers do not use meters and are believed to fleece tourists hence it is not necessary to consider tipping cab drivers. This is not an absolute benchmark and if taxi drivers provide friendly services, tipping them is upon customer discretion.