Venezuelan flights booked months in advance because of cash scheme - After a decade of currency controls set up by late socialist leader Hugo Chavez in 2003, the disparity between the official and black-market rates forthe local bolivar currency is higher than ever. Greenbacks now sell on the illegal market at about seven times the government price of 6.3 to the dollar.
There are strict limits on the availability of dollars at the 6.3 rate, but Venezuelans are cashing in on a special currency provision for travelers. With a valid airline ticket, Venezuelans may exchange up to $3,000 at the government rate.
Uh wow.
