Venezuela clamps down on 'currency tourism' with random checks at airports

Monday, October 21st 2013 - 06:21 UTC

Full article 11 comments

The 'dollar-scarce' Venezuelan government is trying to clamp down on what it calls “currency tourism” with random checks of passengers leaving the country. The officials at the country's main airports are not guards or police but bureaucrats at state currency board Cadivi investigating whether travelers' documents match their requests for hard-to-get dollars. Read full article

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Britworker
Oh well, they voted for him.......enjoy!
Oct 21st, 2013 - 09:05 am - Link - Report abuse 0
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Anglotino
Oh the genius of the 'Bolivarian economic model' in all its glory.
Oct 21st, 2013 - 09:06 am - Link - Report abuse 0
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zathras
Quoting Princess Leia:
“The more you tighten your grip, Tarkin, the more star systems will slip through your fingers.”

Can't help thinking this applies to the restriction of currency movement.

So Trolls how is the restriction of free access to foreign currency working in Venezuela and Argie land?

Given Venezuela's huge oil wealth how on earth have they gotten themselves in such a terrible economic position?
Oct 21st, 2013 - 09:43 am - Link - Report abuse 0
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GeoffWard2
How, zathras?
Why, Bolivarism!

“Wonderful girl, Leia. Either I'm going to kill her or I'm beginning to like her.”
(Lucas might have given our little princess some better lines, though.)
Oct 21st, 2013 - 10:29 am - Link - Report abuse 0
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Casper
When the difference between the official exchange rate and the unofficial rate is so vast it's inevitable that people will exploit the possibilities. Add to that the scarcity of dollars and South American's unmatched ability to find the loopholes in many of their nations crazy monetary policies and here is the result.
Oct 21st, 2013 - 10:39 am - Link - Report abuse 0
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pgerman
U$D 3.000 for long distance trips? U$D 1.000 for short distance trips?

These is more than the amount that argentine people can legally get for a trip !!!

In Argentina it is U$D 50 for a short trip and U$D 800 for a long one.
Oct 21st, 2013 - 12:14 pm - Link - Report abuse 0
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Casper
@6

So how do you mange ( if that's not giving too much away )?
Oct 21st, 2013 - 03:09 pm - Link - Report abuse 0
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Ayayay
@6 Woah. Is that multiplied per person in a family?
Oct 21st, 2013 - 09:56 pm - Link - Report abuse 0
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pgerman
Officially you can ask the AFIP (the official entity that controls taxes) for letting you to buy foreing money but this is just officially..like the inflation of 10%. In fact nobody gets the green-light to buy currency through this means.

So, the Central Bank allows people to take out money from ATM abroad up to a limit of U$D 800 per account and per person (by adult).

If you need to travel with family you have two options: Travelling without cash and using the credit card or buying currency in the black market.
Oct 21st, 2013 - 11:17 pm - Link - Report abuse 0
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MagnusMaster
Also there´s going to be even more restrictions after October, including a clamp on credit card purchases. That´s not going to be enough though, I think there´s going to be a lot of rationing since the last thing the K want is a depreciation.
Oct 21st, 2013 - 11:42 pm - Link - Report abuse 0
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Casper
@9 & 10

Thanks for the info.
Oct 22nd, 2013 - 12:34 am - Link - Report abuse 0
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