How can they withdraw Dollars from ATMs?

IEatTravelnCode

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Oct 29, 2014
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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/2016/venezuelan-‘tourists’-flock-to-dominican-atms-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.
 

Jaime809

Bronze
Aug 23, 2012
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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National Foreign Trade Center CENCOEX issues a 'traveler coupon' with a dollar amount to each passenger, which can be withdrawn upon arrival at the airport."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."
 

beeza

Silver
Nov 2, 2006
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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National Foreign Trade Center CENCOEX issues a 'traveler coupon' with a dollar amount to each passenger, which can be withdrawn upon arrival at the airport."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.
 

Derfish

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Jan 7, 2016
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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
 

frank12

Gold
Sep 6, 2011
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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
 

Derfish

Gold
Jan 7, 2016
4,441
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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 $$$?
 
Jan 9, 2004
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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
 

windeguy

Platinum
Jul 10, 2004
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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

There is not one ATM in this country that I have ever seen that dispenses US dollars. It just does not happen. The article is very misleading. The only way would be to withdraw DR pesos from an ATM and then buy US dollars with DR pesos.
 

HUG

Silver
Feb 3, 2009
3,940
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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

There used to be an ATM in the Hilton on the Malecon in the capital that dispensed US$.
 

beeza

Silver
Nov 2, 2006
3,480
732
113
6:1 officially today....although they have/had three tiers of "official" rates.



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

Wow that really has surged. I was last there in Nov 2013. The official rate was about 4 Bolivars to the Dollar and the black market rate with the airport taxi drivers was around 18. So black market to official ratio was around 4 to1. And now you say it's at 1200. A 200 to 1 ratio.......Crikey! A good money maker for those in the know and are connected.

King Air......................I can only dream!
 

CristoRey

Welcome To Wonderland
Apr 1, 2014
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Venezuelans traveling abroad to buy US dollars is old news.
?
I met one of the fella?s who runs this NicePeopleNetworking website in Sosua back when D?Latins was still open. He was more or less just trying to get me to buy advertising space. I guess any publicity is good publicity.
 

beeza

Silver
Nov 2, 2006
3,480
732
113
Venezuelans traveling abroad to buy US dollars is old news.
?
I met one of the fella?s who runs this NicePeopleNetworking website in Sosua back when D?Latins was still open. He was more or less just trying to get me to buy advertising space. I guess any publicity is good publicity.

Was that the New Zealander? I met him once and somehow ended up giving him my email address. I've never used any of his services but I still get the Monday morning newsletter. Some of it can be quite interesting. Can't comment on the accuracy or authenticity of it though.
 

windeguy

Platinum
Jul 10, 2004
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Was that the New Zealander? I met him once and somehow ended up giving him my email address. I've never used any of his services but I still get the Monday morning newsletter. Some of it can be quite interesting. Can't comment on the accuracy or authenticity of it though.

Yep, Tony Taylor
 

wrecksum

Bronze
Sep 27, 2010
2,063
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It says ATMs.

I've not seen one that gives Yankee dollars or anything but pesos.

Where is this mythical beast? I need it..
 

CristoRey

Welcome To Wonderland
Apr 1, 2014
11,718
7,978
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Was that the New Zealander? I met him once and somehow ended up giving him my email address. I've never used any of his services but I still get the Monday morning newsletter. Some of it can be quite interesting. Can't comment on the accuracy or authenticity of it though.

Beleive the guy said he was from Boston.
 
Jan 7, 2016
827
2
0
There is not one ATM in this country that I have ever seen that dispenses US dollars. It just does not happen. The article is very misleading. The only way would be to withdraw DR pesos from an ATM and then buy US dollars with DR pesos.

There used to be a Banco Popular Machine at the Hard Rock Hotel Casino that dispensed U.S. Dollars, but has recently been replaced by one that only dispenses Pesos.