Venezuela - money - Countries Guide

Venezuela's new currency is the Bolivar Fuerte (VEF), which replaced the Bolivar (VEB) in January 2008. The revaluation means that Bs. 1,000 becomes Bs. F. 1. It is divided into 100 centimos. A transition period will continue until 2009. US dollars are the most favoured foreign currency so it is best to have cash and travellers cheques in US$. Foreign currency and cheques can be changed at bureau de change offices found in most larger cities and tourist destinations. Some banks (e.g. Banco Mercantil) will now buy US dollars for bolivares or sell bolivares against a foreign credit card; some major hotels will also swap US dollars for bolivares. Banks are usually open Monday to Friday. It is best to obtain local currency where possible before travelling, and bolivars should be exchanged before exiting Venezuela. There are ATMs in the cities (however some travellers have experienced problems using them), and most credit cards, including MasterCard/Eurocard, American Express and Visa, are accepted in major cities. Diners Club has more limited acceptance. Visitors are also warned that there is a serious problem with credit card fraud.
Cities & Regions: Caracas