Wednesday, November 12, 2008

Feeling the pinch update - 11th Nov

The black market is the way to go. Official exchange rates completely diddle you. It’s taken us a while to work this out but if we do things in a certain way, we’re not as relatively poor. It’s the first time I’ve understood the power of exchange rates – coffee farmers have told me about it but I’m ashamed to admit I didn’t quite grasp it until I could relate it to my own terms (which is pretty selfish, oh dear). If we draw money out of a cash point, it’s value is literally at least halved, compared to tracking down local money changers or European posada owners, transferring money into their European bank account and getting them to withdraw the cash in Venezuelan bolivares. If we do this, apparently we get a rate of around 1 bolivar to $4.50 instead of $2.15 at the airport. Yippee. I’ve started drinking banana jugos which we can probably now afford to celebrate. We learnt this from a German backpacker today. I have now vowed not to snub the stingy traveller anymore - they’re full of useful information!

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