Travel insight: Money market

Functioning of the money market in countries visited during Expedition Maya has been really an adventure.

Let's summarize few main observations regarding this matter:

• Total lack of small bank notes of any kind. It is rather a miracle if you pay in a shop with a small note (say of equivalent of less than $5, not more!) and the owner has change readily available. Common sight is the owner getting out of his store and running inside and out of myriad nearby shops in the hope of finding some change, usually with poor luck. Reason why is still unknown.
• Supply of solely large currency denominations from the banks and exchange offices. In addition to total unavailability of small denominations, anytime you exchange money or get money from the bank or the ATM, you are left with bank notes of equivalent of at least $20-50. Such denominations, surprisingly enough, are accepted by hardly anybody on the street, leaving you in rather ironic situation.
• Poor physical state of local bank notes. With a few exceptions, local currency is handled in quite poor manner (in comparison to "western standards"). Wallets are literally non-existent and people tend to store they notes on a variety of (sometimes unheard) places, causing notes to be torn, badly creased, dirty, greasy etc., with some notes being advanced to personal notepads. With respect to that, daily money transactions turn into neverending game, with everybody trying to get rid of the rubbish notes and not accept any in return. (similar to the Czech card game "Black Peter")
• Obsession with quality of foreign currency notes. Although local notes are often in rather poor shape (as described above), locals are obsessed with quality of foreign currency exchanged in banks or other offices, expecting such notes to be almost freshly printed. Any minimal defect such as stain or tiny tear results into refusal of such note. (then, of course, local currency in rubbish state is expended in return, with a great deal of surprise and disagreement when those notes are not accepted by the client)
• Low withdrawal limits in ATMs. There are very little ATMs that expend equivalent of more than $200-300 at once. This gets truly inconvenient, taking into account costs of such transaction and the fact that such amount of money is sufficient for 10-15 days in most countries.

Feel free to comment! More observations to come soon.

May the Maya be with you! :)

Bolivian currency, so far connected with the most adventures :)