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Hot MR Opportunities! Venezuela Currency Control! (EWR-HKG for $400)

Hot MR Opportunities! Venezuela Currency Control! (EWR-HKG for $400)

Old Feb 27, 08, 9:34 pm
  #1  
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Hot MR Opportunities! Venezuela Currency Control! (EWR-HKG for $400)

In this post I will outline a procedure which if followed correctly can give anyone unlimited MR opportunities. It is comprised from various points which will be explained.

THIS CAN ONLY WORK IF YOU HAVE FAMILY OR FRIENDS IN VENEZUELA!

1) The Venezuelan Currency Control (CADIVI): A few years ago, due to a quick depletion of international currency reserves because of economical instability, the government established a currency control, allowing only certain companies to access "government dollars" at the "official" rate which was placed at 2,15 BF (Bolivares Fuertes), this gave way to the black market dollar prices to be sometimes more than double (it was at 7,15 BF at some point, now its holding steady at 4,80 BF).

2) The Airline connection: Airlines have access to dollars at the official rate, and they get their dollars at 2,15 each, and they sell tickets according to the official rate, which means that a $800 dollar ticket will be sold at 1720 BF. But really you are paying around $350-380 dollars for that ticket depending on the black rate (because you take your $800 dollars and sell them in the "black" market for 4,7 a piece and get 3760 BF).

3) Important Websites to remember:
The "Black" average exchange rate: http://venezuelafx.blogspot.com/
The cheapest Venezuelan Online Travel Agency: http://www.rumbo.com.ve/

4) The practical part:
Step A)
Search (on KAYAK for example) for a cheap flight like EWR to HKG: Apr 15-Apr 22 which will price at $843.
Step B) Then do the same search on the above mentioned website RUMBO.COM.VE (in Spanish) and the price will come out to 1820,40 BF. This when converted at the 4,7 rate is equal to $388
Step C) Call your relative in Venezuela and tell him to go to the PASSARINI SUAREZ travel agency in CENTRO LIDO (http://www.passarinisuarez.com/contactenos.aspx) which run the RUMBO website and pay 1820,40 BF, and they will send you an e-ticket.
Step D) Check the VENEZUELAFX website and see the average price (its constantly going down, mainly due to the devaluation of the US dollar), it should be around 4,7 - 4,9. Send your family relative the $400 and let them convert it in the black market. They should get their money back with a percentage.
Step E) Enjoy your flight and the miles!!!

On MileCalc.com (http://www.milecalc.com/) the CPM showed at 2.4cpm

The R/T flight is 16130 Miles, and the price is $388

Play around a bit and enjoy yourself!


================================================== =======
The Information for the above mentioned flight I picked is:
de Newark a Hong Kong
Vuelo 1 martes, 15 de abril de 2008
Salida: 15:00 Newark, Estados Unidos - Newark Liberty Internacional, terminal C
Llegada: 18:50 +1 día(s) Hong Kong, Hong Kong - Hong Kong Internacional
Línea aérea: Continental Airlines CO99 e
Avión: Boeing 777-200/300

Tipo de tarifa: Turista con restricciones

de Hong Kong a Newark
Vuelo 1 martes, 22 de abril de 2008
Salida: 10:25 Hong Kong, Hong Kong - Hong Kong Internacional
Llegada: 14:05 Newark, Estados Unidos - Newark Liberty Internacional, terminal B
Línea aérea: Continental Airlines CO98 e
Avión: Boeing 777-200/300

Tipo de tarifa: Turista con restricciones

Leyenda:
* e = opción de billete electrónico
* VEF = Bolívar Fuerte,
* USD = Dólares Americanos

precio
viajeros vuelos tasas
1 adulto(s) x (1.668,40 + 152,00) = 1.820,40 VEF (848,83 USD)
total para todos los viajeros 1.820,40 VEF (848,83 USD)
================================================== =======

BTW, I hope this doesn't fall into the following category of the FlyerTalk guidelines...

Furthering Illegal Activity
Posts that further illegal activity (i.e., buying and selling of awards, direct fraud upon any program) will be removed without notice and posting members' FlyerTalk accounts subjected to revocation.
Because it is fully legal... Its legal to buy tickets with Venezuelan Bolivares... Its legal to change Dollars to Venezuelan Bolivares (well, somewhat legal)... Its legal to call your family member or friend and have him pay for you...

Last edited by flyerman770; Feb 27, 08 at 10:07 pm Reason: Spelling Mistake & Added Info
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Old Feb 27, 08, 9:40 pm
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Serious question - do you think someone can do this without endangering their friends or family who participate in the scheme? With Chavez as leader, I would not want to involve loved ones in some sort of currency manipulation which clearly goes against the intended purpose of their exchange scheme.
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Old Feb 27, 08, 9:41 pm
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Two more points:

* This can technically work with any respectable Venezuelan Travel Agency. I picked the above mentioned example (RUMBO / Passarini Suarez) due to the fact that I have worked with them in the past.

* It will be easier to work if you are flying an airline which has an office in Venezuela like any of the following:

* Aerolneas Argentinas
* Air Canada
* Air France
* Alitalia
* American Airlines
* Continental Airlines
* Copa Airlines
* Delta Air Lines
* Iberia
* LAN Airlines
* Lufthansa
* Mexicana
* TACA
* TAM
* TAP Portugal
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Old Feb 27, 08, 9:42 pm
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Step C seems kind of hard to do...

The whole thing seems kind of sketch.
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Old Feb 27, 08, 9:42 pm
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Wow! That is some kinda loophole you have found there!!!

Anybody in Venezuela want to be my new friend??
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Old Feb 27, 08, 9:43 pm
  #6  
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Originally Posted by WillTravel View Post
Serious question - do you think someone can do this without endangering their friends or family who participate in the scheme? With Chavez as leader, I would not want to involve loved ones in some sort of currency manipulation which clearly goes against the intended purpose of their exchange scheme.
Currency Controls have happened in my dear country a few times, and every time this worked. I have been doing it for flights to or from Venezuela (to visit my family) without a problem for quite a lot of time. And had my family members paying for it with Venezuelan BF

Last edited by flyerman770; Feb 27, 08 at 9:44 pm Reason: Added Info
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Old Feb 27, 08, 9:45 pm
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Not to mention pumping funds into a dictator's hands.
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Old Feb 27, 08, 9:46 pm
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Originally Posted by bhatnasx View Post
Step C seems kind of hard to do...

The whole thing seems kind of sketch.
I have had family do it quite a couple of times in the past. It ain't that hard if you know spanish (otherwise someone from the street will end up with your dollars... and you will end up somewhere outside the city without clothes)
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Old Feb 27, 08, 9:47 pm
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Originally Posted by AvalancheZ71 View Post
Not to mention pumping funds into a dictator's hands.
He ain't a dictator. He is a socialist who has been pumping money to all the poor people in the country, and they love him. He has a average 75% approval rate in the country (according to his enemies' polls)
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Old Feb 27, 08, 9:48 pm
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This is a total scam. The websites don't even open and the current exchange rate is 1 USD for 2,147.5 Bolivares.
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Old Feb 27, 08, 9:50 pm
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I see the lock coming, in before the lock.
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Old Feb 27, 08, 9:54 pm
  #12  
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Originally Posted by flyerman770 View Post
It will be easier to work if you are flying an airline which has an office in Venezuela like any of the following:

* Air Canada
And risk AC unilaterally cancelling & refunding your ticket?
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Old Feb 27, 08, 9:58 pm
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Originally Posted by MyXa View Post
This is a total scam. The websites don't even open and the current exchange rate is 1 USD for 2,147.5 Bolivares.
Both websites work perfectly. The official rate might be 2,147.5 Bolivares. But I wish you luck trying to pay that price for even One Dollar anywhere in the world!

My family lives in Venezuela I know this.

Last edited by flyerman770; Feb 27, 08 at 10:07 pm Reason: Erased sharp words to a Newcomer
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Old Feb 27, 08, 10:10 pm
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I have a friend dating someone from Venezuela. When they go to CCS, they get a travel agent in Venezuela to buy the tickets for this exact reason. I don't know if she has done this for flights not involving Venezuela though...
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Old Feb 27, 08, 10:13 pm
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It was tested and confirmed for flights to/from Venezuela. I don't know about flights originating and ending in different countries not including Venezuela

I am not in Venezuela now. I don't think my family will be too happy to get themselves involved in this thing. When I will be there I will notify the FT'ers and try to do something

Last edited by rcs85551; Feb 28, 08 at 8:35 am Reason: Removed quotes that were a violation of Flyertalk TOS
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