Venezuela's President Nicolas Maduro (L) smiles as he speaks to supporters during a rally to celebrate the 206th anniversary of the Declaration of Independence in Caracas, Venezuela, in this handout picture provided by Miraflores Palace on April 19, 2016. REUTERS/Miraflores Palace/Handout via Reuters
CARACAS (Reuters) - Venezuela's President Nicolas Maduro on Saturday night increased the country's minimum wage 30 percent, amid rampant inflation that has destroyed purchasing power in the crisis-hit country.
As of May 1, the minimum wage will jump to 15,051 bolivars per month - $1,505 at the strongest official exchange rate but just $13.50 at the black market rate.
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