easy money in Colombia and Venezuela

[mmaarten]

It sound strange, but it actually works... Ofcourse there is some risk involved.
This was in 2004, so check first.

You start in Colombia.
First you go to the bank in a major town and withdraw 1000 U$ on your credit-card. You receive the money in Colombia peso's. aprox 2500 peso for a U$
Now you exchange this at a street-money-exchange into U$. You will receive approx. 10 % more. (1100 U$) due to exchange rate's differances at banks and exchange offices.

Now you ride you bike into Venezuela. There the have a U$-shortage, so while the official rate is 1900 for a U$, on the street they pay you 2600 for a U$.

So now you have Venezuelan bolivares for a value of aprox 1500 U$.

Ride back to Colombia and at the border these Bolivares will be exchanged for peso's at little less then the normal rate... Lets say you end up with 1450 U$ in Colombian peso's, which again you exchange and earn 10 %.

Sound like heaven huh?

Ofcourse it is not alowed to bring U$ into Venezuela.... and if they catch you, they will write this in your pasport and you need to exit with the same amont.
If the amount is to high (I think more then 1000 Us) they will thank you very friendly and take it of your hands..... or, if you are very unlucky, they put you in jail (but this means the guard looses the money)

Some people I met live on this... but they admit it gets harder and harder. There faces are to well known by now.

Maarten