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Coche Island, Venuzuala: Exchanging Dollars

 
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Nak

Since 19 May 2005
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PostThu Oct 22, 09 12:47 pm    Coche Island, Venuzuala: Exchanging Dollars Reply with quote

We're thinking of hitting Coche in Jan/Feb. I've never been to Venezuela, so I was researching it a bit. Apparently, the official exchange rate is WAY less than that on the street. (Like 1/3... ) So if anyone has any local knowledge, I have a couple of questions:

Exchanging at the Airport, I've read both good & bad. Some say do it, some say don't. Any experience here?

What about exchanging on Coche itself? Or perhaps on Isla Margarita before we get on the boat to Coche?

How do we know we're getting real money? How do you pick a reputable money exchanger there?

Also, how hard/epensive is it to do a side trip to Los Roques from Coche?

Thanks!

Nak

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fredf

Since 10 Jan 2009
80 Posts
Eugene. Or
 



PostThu Oct 22, 09 1:53 pm     Reply with quote

Nak, what leads you to Coche? I have been researching wind sites in Venezuela for the last year or so and been watching the daily Aruba wind speeds and I've never seen such consistent day after day readings in the 20s. I was thinking of going to Adicora Venez. which is very close (just across a narrow strait) to Aruba but apparently a lot less expensive. I speak Spanish so the local language wouldn't be a problem but, on the other hand, it is difficult to find recent info on the current kite scene there.

Venezuela is about to float a $3 billion bond sale to its citizens to bolster the value of its currency so just the announcement boosted the bolivar from 7b. for 1$ to 5.2 for 1according to a WSJ article on Tues. I suspect that exchange rate will vary and who knows which way. They are hoping for 4.2/1, up from the official 2.15/1. I've heard that the way to go is to deal in cash but, of course, that presents problems. Maybe there is a use for the old travelers checks.

I would be interested in what you learn and more about Coche.
Fred

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Nak

Since 19 May 2005
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PostThu Oct 22, 09 5:51 pm     Reply with quote

Hey Fred!

Coche is what I've found so far... Looking for butter and a beautiful location with stuff for the wife to do. She is a big time animal lover & they have lots of animals at Coche Paradise. (Cats, dogs, donkeys, parrots. ) Plus, day trips to Isla Margarita. Myself, Los Roques looks like absolute Heaven. I'd probably never leave! Very Happy Joanne might get bored after a couple of days though. Nothing to do but kite & enjoy the stunning beauty...

Traveling is free for us, but money is tight this year. So we're looking for something relatively cheap once we get there. Aruba sounds pretty spendy to stay on the beach. Not 100% set on Coche yet, but leaning pretty hard that way... Adicora sounds good too. Very Happy

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Kraemer

Since 24 Apr 2006
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PostThu Oct 22, 09 6:14 pm     Reply with quote

You may want to stay on Margarita- fun place; lots to do and a great value.
Maybe you can get day trips to coche. I went there back in the 80's when
their economy was crippled-- The dollar went extremely far back then.

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Nak

Since 19 May 2005
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PostFri Oct 23, 09 10:15 am     Reply with quote

Kraemer!

Yeah, I looked at Margarita too. Seems like more to do there, but the water at Coche looks better. Really looking for the best flat water I can find & Margarita looks choppy? The Hotel at Coche Paradise has lots of animals wandering about; that will keep Joanne entertained for days! Very Happy

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Gman

Since 11 Feb 2006
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Portland
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PostFri Oct 23, 09 10:32 am     Reply with quote

Los Roques looks awesome - looked like you can get there from Caracas or Margarita

not sure how Yankees are accepted down there (I'm a hater - go Phillies) may get stuck in immigration indefinetly?

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h2olm

Since 07 Jun 2006
124 Posts

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PostFri Oct 23, 09 10:54 am     Reply with quote

Hey Nak,
I did this trip a couple of years ago, and it was a a blast. Despite the behavior of their leader, the people love tourists, even if they are Yankees! I just sent you a pm about my trip. I hope it helps. Los Roques is truly a kiteboarding heaven!

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Nak

Since 19 May 2005
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PostFri Oct 23, 09 8:00 pm     Reply with quote

Thanks h2olm!

Your PM got lost in cyberspace though. Sad Any chance you could re-send it? I read your post on the area, sounds like a great time!

I have got to get Joanne riding. I REALLY want to go to Los Roques!

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Kraemer

Since 24 Apr 2006
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PostFri Oct 23, 09 8:17 pm     Reply with quote

We all REALLY want to go to los roques! Laughing

   Picture 4.png 
   Picture 3.png 

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Chooch

Since 18 Nov 2007
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PostFri Oct 23, 09 11:09 pm     Reply with quote

Kraemer wrote:
We all REALLY want to go to los roques! Laughing


Agreed Exclamation That spot just looks like kite heaven. Wind, Flat water, and Waves. Idea Wish I had the scrillla to check it out Sad

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h2olm

Since 07 Jun 2006
124 Posts

Stoked



PostFri Oct 30, 09 3:06 pm     Reply with quote

Hey Nak,
Just sent you another pm, so check your inbox! I've been a bit under the weather lately, so I didn't see your comments till today.

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pkh

Since 27 Feb 2005
6548 Posts
Couve / Hood
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PostFri Oct 30, 09 5:02 pm     Reply with quote

Can't wait to hear about your trip Nak, been considering a trip there since I started kiting!

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Nak

Since 19 May 2005
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PostMon Nov 02, 09 11:15 am     Reply with quote

Looks like Coche for sure! Looking at a really great rate at Hotel Coche Paradise. All inclusive and right at the kitebeach. Very Happy

One thing, they want me to wire the money in advance? Seems like a reputable place, but I've never wired money for a hotel reservation? I think it probably has something to do with the government imposed exchange rate... Anyone have any experience with this?

h2olm wrote:
Hey Nak,
Just sent you another pm, so check your inbox! I've been a bit under the weather lately, so I didn't see your comments till today.


Still haven't seen anything; something must be wrong??? Thanks for trying though! Very Happy

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Chong

Since 21 Oct 2009
27 Posts
LA/FL/MX
 



PostMon Nov 02, 09 11:48 am     Reply with quote

me gusta coche is good wind

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kajter

Since 12 Nov 2009
8 Posts
kalafiornia
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PostSun Nov 15, 09 5:03 pm     Reply with quote

i was in Margarita (el yaque) in may of 2006 still as a windsurfer though. i think it was somewhat choppy though it didnt matter that much as i was a WS-er then... many people did one-day trips to Los Roques and it is a paradise there (picturesque). probably good for kiting as well...

border was easy, but i dont carry a us passport so it may have been helpful... we flew AA to Caracas, then walked 300 yards from the international terminal to the domestic terminal and then flew the domestic airlines to Margarita. don't get scammed for any rides or help with baggage between the terminals - it is a 300 yards walk and I'd imagine you're fit enough to take it as a kitesurfer... at the domestic terminal, wrap your bags with plastic very thoroughly for $5-$10 a piece as things disappear there, i heard. international terminal is supposedly free of luggage thieves amongst the baggage sorting crew... you would not be able to wrap your bags in the US anyway...

street exchange rate of 3x official rate is bs, at least that's what i'd like to believe. before spending any money, we checked some 20 places in el yaque and all of them were within a few percent range. unless they were all involved in a collusion, i think the rate i was getting was fair. and it was pretty comparable to official rate (within a few percentage points). then we traveled around and the rate was everywhere very similar. maybe had i spoken spanish, i would have been able to get the 3x official rate, but i still doubt it. i think it's a urban myth.

never exchange money at the airports - transaction fees will eat you and the exchange rates are the worst. that rule is true for NY, LA, London, Caracas and Baghdad (though i fortunately haven't been to the last so what do i know...)

generally, we paid with dollars as soon as we run out of their money. margarita is nice - rent a car and drive around. it's a great mix of a very poor third world and a fairly rich third world.

enjoy!

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