Become Familiar with the Currency on Isla Margarita

When visiting Caracola Beach and Spa Resort on Isla Margarita you have to keep into account the different currency that is used on the island. However, you don’t need to worry because US dollars can easily be exchanged for Isla Margarita currency on the island. Both exchange houses and banks can easily exchange dollars and travelers’ checks at the official rate.

The currency used on Isla Margarita is Bolivars. The current official exchange rate of US dollars to Bolivars is 4,30 to one US dollar (January 21, 2010).

It is suggested that you talk to the concierge at the hotel or hotel personnel to find the most convenient place to readily exchange US dollars for Bolivars.

However, do not be trapped into exchanging all your money at once at the Caracas airport by ‘helpers’. Once you change US dollars to Bolivars you will not be able to change the local currency back to dollars, so be sure to just exchange a little at a time.

Also, stay away from using your credit card or ATM card, if at all possible. It may end up costing you much more (20%+) for what you can readily receive for US dollars by visiting a bank or exchange house.