Venezuelan consumers hit by parallel‑exchange rates and inflated urban‑bus fares

Informal traders in Caracas neighbourhoods such as La Hoyada and Catia are applying parallel exchange rates of 700–900 bolívares per U.S. dollar, far above the official 572.67 rate set by the Central Bank. A vendor quoted a price of "10 dólares y en bolívares 10,500," illustrating the near‑double cost when transactions are priced in bolívares. The disparity forces sellers and buyers to absorb higher costs, with many merchants reporting rates of 1,050 bolívares per dollar for imported goods.

Meanwhile, Venezuela’s transport ministry announced a new urban‑bus fare of 140 bolívares (about $0.25). In practice, drivers in Maracaibo and San Francisco charge between 200 and 350 bolívares per ride, representing up to a 316% increase over the legal price. Passengers on multiple daily routes can spend up to 4,500 bolívares a week (around $7.70), aggravating the financial strain on households already coping with the currency crisis.