EconomyDolarToday Venezuela Today, Wednesday, May 18: find out the...

DolarToday Venezuela Today, Wednesday, May 18: find out the purchase and sale price here

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The dollar price in Venezuela according to DolarToday operates this Wednesday in the midst of the oil alliance that the government made with Iran, to have more supplies and the repair of a refinery.

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The state-owned National Petroleum Engineering and Construction Company of Iran signed a contract for about US$114 million to repair the smallest refinery in Venezuela, with a capacity of 146,000 barrels per day, the official Iranian agency IRNA reported, quoted by Reuters.

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In addition, Vice President Delcy Rodríguez pointed out that a bonus of 10,000 bolívares (US$ 2,224 at the current exchange rate) will be given to all those people in the public sector who retired between January 1, 2018 and May 1, 2022.

It should be noted that the Venezuelan president, Nicolás Maduro, set the minimum wage at US$28 per month in March, after it had been lower than US$2 due to the effects of hyperinflation, the depreciation of the local currency and eight consecutive years of recession before rebounding 4% in 2021, according to the government.

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He also assured that his country is prepared to face the impact that the sanctions imposed by the United States and the European Union on Russia may have on the rest of the world, after the Eurasian country’s invasion of Ukraine.

Meanwhile, the Central Bank indicated a few days ago that inflation in March was 1.4%, the lowest variation in a decade.

In the figures accumulated in the first quarter of this year it reached 11.4%, while the interannual figure (March 2021-March 2022) was 284.4%.

But despite the slowdown of the last six months, prices are still high, which continues to affect the income of families. The minimum wage in the country is equivalent to US$30.

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It is the currency that governs the country after the third monetary reconversion that was applied by the Government. The new reconversion implied that for every million sovereign bolívares a digital bolívar would be obtained or, what is the same, six zeros of the amounts previously drawn would be erased.

Source: Elcomercio

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