He bolívar of Venezuela 20% fell in April against the US dollar – the main reference in the Caribbean country to quote goods and services – when the rate arrived at 87.56 bolivars this Wednesday in the official market, the largest monthly devaluation that records the national currency so far from 2025.
According to figures from Central Bank of Venezuela (BCV), which is published daily by the official price, the price of the American currency increased by 25% this month, which began in about 70 bolivars per dollar.
In March, Bolívar devalued 7.39% compared to the US currency; In February, 9.2%; And in January, it lost 10% of its value against the dollar.
Meanwhile, the rate in the parallel market – mostly in the informal sector of the economy – closed the last day of April in 108.90 bolivars, so the gap with the official exchange rate is today of about 21 bolivars.
He minimum wageReference for the rest of the remuneration in the public administration, equals $ 1.48 per month – which two bonds are added for a total of $ 130 that receive employees from this sector – when a person needs around $ 100 per month only to cover basic feeding expenses, according to independent estimates.
The dollar was adopted in Venezuela unofficially as a consequence of the hyperinflationary crisis that this oil nation between 2017 and 2021 lived.
The BCV does not publish inflation data since October 2024, when the country began to face episodes of devaluation of its currency in the official market.
According to the Venezuelan Observatory of Finance (OVF), composed of experts and economic analysts, the country had accumulated inflation of 36.1% in the first quarter of the year, which, according to this autonomous entity, is mainly due to the increase in the price of the dollar.
On Tuesday, the living conditions survey (Encovi) spread that A total of 3.4 million homes Venezuelans He lived in extreme poverty – with insufficient income to buy food – in 2024.
Encovi, prepared by the Andrés Bello Catholic University, revealed that 56.5% of households remained last year in multidimensional poverty – another indicator that “combines income with other factors such as services, education, housing and employment” – – –which meant about 2.4 percentage points (pp) less than 2023.
Likewise, the perception of food insecurity decreased by 2024, since 78.1% of respondents said they worry because food ended. “However, there are still territorial and strata spotlights, which reach approximately 1/3 of the country, where moderate and severe food insecurity is still present,” said the survey, prepared by interviews from A sample of 2,400 homes.
In addition, 41.1% of the interviewees said in 2024 having run out of food at home.
The study indicated that, during the first semester of 2024, poverty fell as “the result of exchange stability, the reduction of inflation and economic growth.” However, he warned that “the volatility of the second semester 2024 and what will be 2025 may already be showing a very different reality.”
The International Monetary Fund (IMF) projected, in its report of global economic perspectives released this month, a contraction of the Real Gross Domestic Product (GDP) of Venezuela of 4% by 2025 and 5.5% by 2026.
The IMF also estimated 180% inflation for the closing of this year and 225% in 2026.
(With EFE information)
