Friday, February 27, 2015

A Big Mac for 33 cents!?!? Really.

That`s right.  A foreign tourist can buy a Big Mac - the real deal for 33 cents in Venezuela today.
This is the why and how:
Last month the Mac Donald's franchise holder Arcos Dorados Holdings Inc agreed with the populist government to cut the price of the Big Mac Combo,  a burger and a soft drink to 73 bolivares.  Under the multi  tiered exchange system that is eleven dollars using  the figure of 6.3 bolivares to the dollar which is the rate wages and salaries are officially valuated at. Today you tourist dollar was worth 177 bolivares at any bank.  That puts the Big Mac Combo at 42 cents, a real bargain.  But if you came into Venezuela by way of Cucuta Colombia you could have exchanged your dollar for Colombian pesos and then did pesos for bolivares and got 200 bolivares making you burger and coke cost 37 cents
The dangerous and illegal market would return 222 boliivares if you don't mind risking jail, kidnapping or worse.  That's how you`d get the very cheapest burger.