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LatinNews Daily - 29 October 2019
In brief: Venezuela’s bolívar down by 15.16%
* The official exchange rate set by Venezuela’s central bank (BCV) for the country’s currency, the bolívar soberano, has reached Bs21.659/US$1. The new official exchange represents a sharp 15.16% devaluation of the bolívar compared to the B19.374/US$1 registered last week. However, the official exchange rate is still well below the black-market exchange rate in which the value of the bolívar has fallen by 38.88% in the past week to Bs25.369/US$1. At the new official exchange rate the recently increased new monthly minimum salary in Venezuela is equivalent to just US$6.92.
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