Page 1 of 3 123 LastLast
Results 1 to 10 of 23
  1. #1
    Silver
    Join Date
    Nov 2006
    Posts
    2,831
    Post Thanks / Like

    Default How can they withdraw Dollars from ATMs?

    This article says how Venezuelans are queing to use the ATMs at SDQ airport to withdraw Dollars?

    How? I've been to SDQ several times and I've never seen an ATM that dispenses Dollars. In fact I've never seen one in the whole country.

    http://www.nicepeoplenetworking.com/...s-for-dollars/

  2. Likes frank12, CristoRey liked this post
  3. #2
    Bronze
    Join Date
    Aug 2012
    Posts
    1,142
    Post Thanks / Like

    Default

    "How" is described in the very next sentence of the article.

  4. #3
    Silver
    Join Date
    Nov 2006
    Posts
    2,831
    Post Thanks / Like

    Default

    Quote Originally Posted by Jaime809 View Post
    "How" is described in the very next sentence of the article.
    Care to explain? The article is very misleading by saying that they are withdrawing Dollars from Dominican ATMs.

  5. Likes frank12 liked this post
  6. #4
    Regular
    Join Date
    Oct 2014
    Posts
    224
    Post Thanks / Like

    Default

    Quote Originally Posted by beeza View Post
    This article says how Venezuelans are queing to use the ATMs at SDQ airport to withdraw Dollars?

    How? I've been to SDQ several times and I've never seen an ATM that dispenses Dollars. In fact I've never seen one in the whole country.

    http://www.nicepeoplenetworking.com/...s-for-dollars/
    I don't know if they can withdraw dollars from ATM, but there is a Exchange Company, that accepts Credit Cards and gives you dollars.

  7. #5
    Bronze
    Join Date
    Aug 2012
    Posts
    1,142
    Post Thanks / Like

    Default

    Quote Originally Posted by beeza View Post
    Care to explain? The article is very misleading by saying that they are withdrawing Dollars from Dominican ATMs.
    The next sentence in the article reads:
    "In Dominican Republic’s case Venezuela’s National Foreign Trade Center CENCOEX issues a 'traveler coupon' with a dollar amount to each passenger, which can be withdrawn upon arrival at the airport."

    The article also states:
    "...they can withdraw from ATM machines at airports by using the “traveler coupon” which form part of the Venezuelan government’s currency regulations."

  8. #6
    Silver
    Join Date
    Nov 2006
    Posts
    2,831
    Post Thanks / Like

    Default

    Quote Originally Posted by Jaime809 View Post
    The next sentence in the article reads:
    "In Dominican Republic’s case Venezuela’s National Foreign Trade Center CENCOEX issues a 'traveler coupon' with a dollar amount to each passenger, which can be withdrawn upon arrival at the airport."

    The article also states:
    "...they can withdraw from ATM machines at airports by using the “traveler coupon” which form part of the Venezuelan government’s currency regulations."
    Yes I understand that part. Venezuelans need permission from their government to even buy a plane ticket out of Venezuela, with that permission they can buy dollars at the official Government rate, which is currently around 6 Bolivars to one Dollar.

    If you were to arrive in Caracas today with US Dollars you could likely get to nearly 200 Bolivars to a Dollar on the black market. This currency control that the Venezuelan govt have invented has created a real surge in the black market for hard currency.

  9. Likes frank12 liked this post
  10. #7
    Silver
    Join Date
    Jan 2016
    Posts
    4,857
    Post Thanks / Like

    Default

    Quote Originally Posted by beeza View Post
    Yes I understand that part. Venezuelans need permission from their government to even buy a plane ticket out of Venezuela, with that permission they can buy dollars at the official Government rate, which is currently around 6 Bolivars to one Dollar.

    If you were to arrive in Caracas today with US Dollars you could likely get to nearly 200 Bolivars to a Dollar on the black market. This currency control that the Venezuelan govt have invented has created a real surge in the black market for hard currency.
    Venezuelans didn't invent the idea. I was in Nicaragua when the street exchange rate was 40,000 Cordabas to the dollar, but the government rate was 7 to the dollar. Upon arrival they gloated that they didn't charge afee such as the $10.00 we pay here for a tourist card, but they did make one change at least $100. for Cordabas at the 7 to 1 rate!
    Der Fish

  11. #8
    On Probation
    Join Date
    Sep 2011
    Posts
    10,912
    Post Thanks / Like

    Default

    I have yet to see an ATM machine anywhere in the country that dispenses dollars. If there was one, i imagine there would be one hell of a line that stretched to the moon and back with people trying to take out the maximum amount of dollars each day.

    Frank

  12. Likes beeza, Garyexpat, Criss Colon liked this post
  13. #9
    Silver
    Join Date
    Jan 2016
    Posts
    4,857
    Post Thanks / Like

    Default

    Quote Originally Posted by frank12 View Post
    I have yet to see an ATM machine anywhere in the country that dispenses dollars. If there was one, i imagine there would be one hell of a line that stretched to the moon and back with people trying to take out the maximum amount of dollars each day.

    Frank
    I have walked into Popular bank and bought $300 dollars worth of pesos. Why does one expect there would be suck a run on $$$?

  14. #10
    Gold
    Join Date
    Jan 2004
    Posts
    8,763
    Post Thanks / Like

    Default

    Quote Originally Posted by beeza View Post
    Yes I understand that part. Venezuelans need permission from their government to even buy a plane ticket out of Venezuela, with that permission they can buy dollars at the official Government rate, which is currently around 6 Bolivars to one Dollar.
    6:1 officially today....although they have/had three tiers of "official" rates.

    If you were to arrive in Caracas today with US Dollars you could likely get to nearly 200 Bolivars to a Dollar on the black market. This currency control that the Venezuelan govt have invented has created a real surge in the black market for hard currency.
    Put a 1 in front of the 200 and you nailed it.

    The black market rate today is over 1200:1;

    https://dolartoday.com/

    My client has been buying vehicles in dollars there and shipping them out.

    FYI, there was a nice deal on a King Air too.

    There are no ATM machines in the DR, to my knowledge, that actually dispense dollars.


    Respectfully,
    Playacaribe2

  15. Likes frank12, beeza liked this post
Page 1 of 3 123 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •