Money and economy
Official Exchange Rate: 1 US$ = 4.30 bolivares
There are strict exchange controls in Venezuela at the moment.
You can use your debit or credit card at any ATM or in any shop. We advise you to bring US$ in cash for your holiday expenses.
Banks:
Most of banks have branches in the most important shopping centers such as Rattan Plaza and Sambil Margarita.
The five major banks in Venezuela are: Banesco, Banco Mercantil, Banco Provincial, and Banco Venezuela.
You must be very careful when using ATMs. Do not allow strangers to help you, and do not use the cash point if you suspect that something suspicious is going on. Credit cards can sometimes be cloned. Check your bank statements every now and then, and call your bank immediately if you notice any irregularities. It is also sensible to bring other methods of payment such as traveler's checks or other credit cards.
Everyday expenses:
Food can sometimes be a little expensive on Margarita Island. As Margarita is an island, it relies on the mainland for supplies of many products, which explains the high price of some items.
Only some agricultural products are grown in these kinds of temperatures. Fish and beef, on the other hand, are relatively low-priced.
Margarita Island is a duty-free port. There is no tax on liquor, cigarettes, cheese and other imported items. You can get everything on the island, from different kinds of cheese such as Italian Parmesan cheese, to Swiss chocolate.
Venezuela has the cheapest gasoline in the world. You can fill the tank of your rental car for just US$ 1 :-) and go for a ride around the island...
