[01]Prices at the BCV rate
Why the price lives in dollars
Most shops in Venezuela buy in dollars or at a rate tied to the dollar, so a price written in bolívares goes stale every time the rate moves. If you price in bolívares and the rate goes up, you sell the same product for fewer dollars than it costs you to buy it again, and you only notice when the money doesn't reach for the next order.
The method is simple: the price is set in dollars, and the bolívares are just the conversion at the day's rate. In this guide we use an example rate of Bs 200 per dollar because it makes the arithmetic easy. It is an example, not today's rate: always use the one the BCV publishes for the day.
[02]Prices at the BCV rate
How to work out a product's selling price
Start from the cost: what it costs you to restock the product today, in dollars, per unit you sell. If you buy a bulto of 20 kilos of harina de maíz for $19, each kilo costs you $0.95. If your supplier charges in bolívares, divide by the rate of the day you pay: Bs 3,800 at Bs 200 is also $19.
Then decide what share of the price you want to keep. That's the margin. The formula is:
Leave some room: your margin also has to pay for rent, electricity, wages, bags and whatever is lost or spoils. A price that only covers the cost isn't a price, it's a swap.
[03]Prices at the BCV rate
Margin and markup are not the same
Many owners say "I add 30%" and believe they earn 30%. They don't. Adding 30% to the cost is the markup. The margin is what you keep out of the price, and it's always smaller. With a cost of $1.00 and 30% added, the price is $1.30 and you keep $0.30 out of $1.30: a 23.1% margin.
| You add to the cost (markup) | Price for a $1.00 cost | Margin you keep |
|---|---|---|
| 20% | $1.20 | 16.7% |
| 25% | $1.25 | 20.0% |
| 30% | $1.30 | 23.1% |
| 42.9% | $1.43 | 30.0% |
| 50% | $1.50 | 33.3% |
| 100% | $2.00 | 50.0% |
Neither is wrong, but use one and stick with it. The margin is the more useful: it tells you directly how much of each dollar sold is yours before expenses, and it's the one reports use.
[04]Prices at the BCV rate
Rounding, and what to do when the rate changes
- Round the dollar price, not the bolívar one, and round up: $1.19 becomes $1.20, never $1.15. Five or ten cents is a convenient step.
- The bolívares come from the conversion and carry decimals with real rates. With Pago Móvil or a card, charge the exact amount. With cash bolívares, round to what you can give change for.
- Use one rate for the whole day and show it at the counter. The BCV publishes the next business day's rate in the afternoon: what counts is the rate for today's date, not the one it just announced.
When the rate goes up, a price set in dollars sorts itself out: $1.20 at Bs 210 is Bs 252. A price written in bolívares doesn't. If the harina stays at Bs 240 and the rate goes from 200 to 210, you're now selling it for $1.14. Your margin falls from 20.8% to 16.9% without you touching a thing.
The rate is not the only thing that moves. When your supplier raises the cost in dollars, the price in dollars has to change too. Check the cost every time you receive goods, not only when the rate moves.
[05]Prices at the BCV rate
Change (vuelto) and mixed payments
The rule that avoids arguments: work everything out in dollars, and convert to bolívares at the same rate you charged at.
[01]
Change from a dollar bill
A purchase of $3.70 (Bs 740 at the example rate). The customer pays with a $5 bill. The change is $1.30: you can give $1 and Bs 60, or all of it as Bs 260. Never at a different rate from the one you charged at.
[02]
Part in cash, part by Pago Móvil
A purchase of $12.40 (Bs 2,480). The customer gives $10 in cash. What's left is $2.40, which is Bs 480 by Pago Móvil. Work out the remainder in dollars first and convert it afterwards, so the two parts always add up.
[03]
Check before you hand it over
A screenshot of a Pago Móvil is not money in the bank. Confirm the payment arrived, with the right reference and amount, before the goods leave.
Taxes such as IVA and IGTF depend on your business and how you are paid: check with your accountant how they apply to you.
[06]Prices at the BCV rate
How Arodeni Panel does it
In Arodeni Panel, our POS system for shops in Venezuela, you write each price in dollars (or in bolívares, if you prefer) and the register shows it in both currencies at the day's rate.
- The official BCV rate is fetched on its own during the day, under the date it applies to. If you'd rather use your own, you set it in Ajustes, and the Panel warns you if you forget to update it.
- At the register, the customer can pay in several parts at once (some in dollars, some by Pago Móvil), and the change comes out in bolívares, dollars or split.
- Each product shows its cost and margin. You can change many prices at once: by a percentage, or to reach a margin from the cost, with rounding, a before-and-after preview, and undo.
- If you price in bolívares, the Panel warns you when the rate goes up and products fall under your margin, and it can bring those prices to today's rate in one go.
- With Básico, each Pago Móvil waits to be confirmed against the bank, and a reference that was already used shows in red.
Selling at the BCV rate comes with the Gratis plan, which never expires. See the plans, and if you're still setting up your products, how to keep a bodega's inventory.