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Venezuela/Bolivars to USD black market exchange rate

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Question
Hi Margie,

My friend in Venezuela has his business doing very well.
He has a lot of cash in Bolivars, and he wants to exchange them in USD.  However, as what he knows, it's hard to exchange it into USD through the official exchange center, and the only possibly way is to exchange it through the black market.

However, he does not know exactly what the black market rate is.;
someone says 1USD = 40 - 50 Bolivars;
someone says 1USD = 187 Bolivars approx.
There is a huge difference.

Can you please tell me the truth ?  Thank you.

Best Rgds
Sam

Answer
Hi Sam,

At the moment there are 3 official rates 6.30, 12 and 50 Bolivars per Dollar. The government has announced a new exchange system will be in place next week, reportedly at 180 Bs per Dollar. The current black market rate is publshed by Dolartoday.com https://dbz1kpqkb0vlf.cloudfront.net/ at 188.08 Bs per $.

Right now no one is exchanging in expectation on what the rate might be next week. It's very hard to find a reliable source.

Hope this helps,

Margie

Venezuela

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Margie

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Questions about Venezuelan Dental Cosmetic and Medical Surgery Tourism, Birth Certificates Venezuela, Death Certificates Venezuela, Marriage and Divorce Certificates in Venezuela, Apostille Services in Venezuela, Living in Venezuela, Import and Export to Venezuela, Money Exchange Venezuela, Living in Maracaibo, Safety in Venezuela, Travelling to Venezuela, Venezuelan Visas, English/Spanish Translations Venezuela, SICAD Currency Exchange, Venezuelan Laws, Secretarial Services in Venezuela, Venezuelan News, Venezuela's Oil Industry.

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20 years working in the oil industry in Venezuela as a bilingual administrative assistant, expat services, travelling arrangements, accommodations, logistics, among others.

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Administrative Assistant, CRM

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