The accelerated devaluation of the bolivar following the United States invasion of Venezuela and the arrest of President Nicolás Maduro pushed the country’s minimum wage to a new historic low. This Monday (5), the official monthly remuneration became worth the equivalent of approximately R$2.34, according to the quote published by the Central Bank of Venezuela.
The Venezuelan minimum wage has remained set at 130 bolivars since March 2022. At the time, the value corresponded to around US$30. With the escalation of the exchange rate and political crisis, the same amount today represents less than US$0.50, reflecting the continued loss of purchasing power of the local currency against the dollar.
The official exchange rate closed at 304.30 bolivars per dollar this Monday, deepening a deterioration movement that has intensified in recent weeks.
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In 2025 alone, the bolivar accumulated a devaluation of 78.8% against the American currency. In the same period, the dollar became 372.2% more expensive in the country, having started the year at 52.02 bolivars.
Exchange rate pressure had already been intensifying before the North American military offensive. In October, the dollar traded at 245.66 bolivars and, in early November, it was at 223.96 bolivars. In November, the Venezuelan currency lost 8.8% of its value in just one month.
The invasion authorized by US President Donald Trump acted as a catalyst for a flight to strong currencies and increased financial instability.
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In practice, the minimum wage is no longer a reference for subsistence. Economists point out that the majority of Venezuelans depend on parallel mechanisms to survive, such as remittances from abroad, informal activities and bonuses paid by the State.
Among these supplements are a food voucher equivalent to around R$217 and the so-called “economic war income”, which amounts to approximately R$652 per month for public servants. These values, however, do not form part of the base salary nor do they count towards employment benefits, such as vacations, pensions or compensation.
The policy of keeping the minimum wage frozen and expanding the use of one-off bonuses has been justified by the Maduro government as a way to contain inflationary pressures and circumvent the effects of international sanctions. In practice, however, experts see an emptying of the formal worker protection system. Even with additional payments, total income remains vulnerable to exchange rate fluctuations and the informal dollarization of the economy.
Room for readjustments is limited. Low productivity, high operating costs and the size of the public sector make a broad correction unfeasible. According to the agency EFEthe Venezuelan state payroll has around 5.5 million active employees and more than 4.5 million pensioners. Within this scenario, an increase in the minimum wage to something like US$250 per month would consume all of the country’s revenue from oil exports and taxes.
The Venezuelan minimum wage is currently among the lowest in the world in nominal terms, with even more fragile prospects following the political crisis opened by Maduro’s arrest and the direct intervention of the United States.
