Venezuela's Living Wage

[IBDaMann]

Nícolas Maduro was very progressive yesterday, increasing Venezuela's public sector (not applicable to private sector) living wage from $130 USD/month to $160 USD/month. The living wage for private sector jobs remains at $1.47 USD/month.

Conditions in Venezuela are much better than I had imagined. I have to extend credit where it is due.


[note in the picture below that one of the kids eating out of the trash nonetheless has a handfull of worthless cash]

 

[IBDaMann]

For those of you who are inclined to watch an occasional train wreck in slow motion, Venezuela's hyperinflation of 141.6% has devalued the Venezuelan Bolívar from roughly 36 VES/1 USD to roughly 88 VES/1 USD over the previous year.

Month Date Official Rate (VES per USD) Parallel Rate (VES per USD) Notes
Apr 1, 2024 36.24 ~36.50
May 1, 2024 36.52 ~36.80
Jun 1, 2024 36.41 ~36.90
Jul 1, 2024 36.48 ~37.00
Aug 1, 2024 36.60 ~37.20
Sep 1, 2024 36.75 ~37.50
Oct 1, 2024 37.02 ~38.00
Nov 1, 2024 39.45 ~40.50
Dec 1, 2024 43.68 ~45.00
Jan 1, 2025 48.76 ~50.20
Feb 1, 2025 55.61 ~57.50
Mar 1, 2025 60.84 ~63.00
Apr 1, 2025 70.33 ~73.00
May 1, 2025 87.56 ~88.37

Venezuela currency is trash in the streets.

 

[T. A. Gardner]

Don't forget you can get the CLAP once a month or so too...