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Expat Community > Venezuela

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Cheap Gold?

9 years ago
Hi Folks, is this a reasonable idea?

Bring into Venezuela $100 and exchange it in the black market. I don't know the exchange rate, so I'll conservatively guess 200 Bolivars to the USD. Now I have 20K Bolivars.

On the web site goldrate24 it is showing around 7000 Bolivars for an ounce of gold. Could I now buy almost 3 ounces of gold, worth $3300 in the USA, for my original $100?

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