The Big Ragu
Well-Known Member
- Joined
- Nov 14, 2002
- Messages
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Venezuela Holiday May Never Be as Cheap Again on Your Visa - Bloomberg Business
Venezuala has been getting killed by the drop in the price of oil, which is priced in US dollars. Llast week, they were forced to lift their currency peg (It was 6.3 bolivars to the dollar) -- and they are letting the market set the exchange rate, currently somewhere north of 170 bolivars per dollar right now -- at least for as long as it takes for them to gather some dollar reserves.
The result: Show up with dollars in your pocket today and you can take a domestic flight for $7, stay at the five-star Marriott Hotel in Caracas for $60 and get a Big Mac for 92 cents, according to that story.
The price for your cheap vacation: a toilet paper shortage and the highest murder rate among country capitals, which explains why Venezuela had less visitors than Uzbekistan or Latvia in 2013.
Venezuala has been getting killed by the drop in the price of oil, which is priced in US dollars. Llast week, they were forced to lift their currency peg (It was 6.3 bolivars to the dollar) -- and they are letting the market set the exchange rate, currently somewhere north of 170 bolivars per dollar right now -- at least for as long as it takes for them to gather some dollar reserves.
The result: Show up with dollars in your pocket today and you can take a domestic flight for $7, stay at the five-star Marriott Hotel in Caracas for $60 and get a Big Mac for 92 cents, according to that story.
The price for your cheap vacation: a toilet paper shortage and the highest murder rate among country capitals, which explains why Venezuela had less visitors than Uzbekistan or Latvia in 2013.
