Cost of Living in Caracas

Summary about cost of living in Caracas:

Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 3.50 $ 2.85-7.00
Meal for 2 People, Mid-range Restaurant, Three-course 38.00 $ 25.00-45.00
McMeal at McDonalds (or Equivalent Combo Meal) 3.75 $ 2.05-6.00
Domestic Beer (1 pint draught) 0.70 $ 0.50-1.00
Imported Beer (11.2 oz small bottle) 2.00 $ 1.50-4.00
Cappuccino (regular) 0.79 $ 0.47-2.00
Coke/Pepsi (11.2 oz small bottle) 0.70 $ 0.40-1.00
Water (11.2 oz small bottle) 0.41 $ 0.19-1.00
Markets [ Edit ]
Milk (regular), (1 gallon) 3.85 $ 2.84-5.68
Loaf of Fresh White Bread (1 lb) 0.92 $ 0.54-1.81
Rice (white), (1 lb) 0.80 $ 0.45-1.36
Eggs (regular) (12) 1.52 $ 0.86-2.30
Local Cheese (1 lb) 1.62 $ 0.91-3.18
Chicken Breasts (Boneless, Skinless), (1 lb) 1.63 $ 0.91-2.72
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 1.88 $ 1.20-3.63
Apples (1 lb) 1.58 $ 0.91-2.72
Banana (1 lb) 0.55 $ 0.23-0.91
Oranges (1 lb) 0.54 $ 0.36-0.91
Tomato (1 lb) 0.60 $ 0.45-0.91
Potato (1 lb) 0.55 $ 0.35-0.91
Onion (1 lb) 0.75 $ 0.54-1.02
Lettuce (1 head) 0.85 $ 0.50-1.00
Water (1.5 liter bottle) 0.87 $ 0.50-1.50
Bottle of Wine (Mid-Range) 9.00 $ 7.00-15.00
Domestic Beer (0.5 liter bottle) 0.90 $ 0.53-1.00
Imported Beer (11.2 oz small bottle) 2.34 $ 1.50-3.50
Pack of Cigarettes (Marlboro) 1.60 $ 1.00-3.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 0.25 $ 0.10-0.25
Monthly Pass (Regular Price) 4.25 $ 3.00-5.00
Taxi Start (Normal Tariff) 1.32 $ 1.00-2.00
Taxi 1 mile (Normal Tariff) 1.61 $ 1.29-2.41
Taxi 1hour Waiting (Normal Tariff) 3.50 $ 2.00-6.00
Gasoline (1 gallon) 0.03 $ 0.00-0.04
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 25,000.00 $ 20,000.00-27,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 33,636.36 $ 25,000.00-40,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 11.23 $ 6.00-17.89
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.12 $ 0.10-0.18
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 3.30 $ 2.00-8.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 9.37 $ 3.75-20.00
Tennis Court Rent (1 Hour on Weekend) 4.56 $ 1.00-7.00
Cinema, International Release, 1 Seat 1.75 $ 1.25-3.00
Childcare [ Edit ]
Preschool (or Kindergarten), Private, Monthly for 1 Child 30.00 $
International Primary School, Yearly for 1 Child 9,099.00 $
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 54.45 $ 30.00-80.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 52.42 $ 20.00-95.00
1 Pair of Nike Running Shoes (Mid-Range) 116.67 $ 70.00-200.00
1 Pair of Men Leather Business Shoes 95.45 $ 60.00-150.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 283.67 $ 200.00-400.00
Apartment (1 bedroom) Outside of Centre 254.00 $ 200.00-480.00
Apartment (3 bedrooms) in City Centre 400.88 $ 300.00-600.00
Apartment (3 bedrooms) Outside of Centre 430.83 $ 300.00-535.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 131.92 $ 92.90-185.80
Price per Square Feet to Buy Apartment Outside of Centre 127.41 $ 77.48-185.80
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 33.61 $
Mortgage Interest Rate in Percentages (%), Yearly 19.38 11.00-29.00

Prices in Caracas

These data are based on 957 entries in the past 12 months from 65 different contributors.
Last update: October 2017
Sources and References: Info
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47 Comments so far

#Moises on Oct 16, 2017 :
Im from Venezuela. We are going through a Hyperinflation caused by terrible economics measures and price restrictions taken by the president, while the goverment still have a currency restriction, the parallel market is today at 31000Bs per $ and the official market has stopped with a promise of creating a new economic model based on the Yuan, Euro and Rupie. Today minimun wage is about 13$-15$ approximetly. Believe me you dont want to live here unless your income is in $.
#Alelsandar on Oct 01, 2017 :
Hahahaha... Wow.. Im amazed how cheap everything is. Fo sure i will move in Venezuela soon.
#Michael Wallen on Jul 24, 2017 :
Read with Great interest!
Foreigner living here 5 years!
Before Much better rate relatively speaking!
How can U My brothers here get your ca$h over here?
Banks or crédit cards can Not be used!
Last DolarToday Was €10.197 & $8.900!
So how Much Pay the CCS street banqueros?
#Juan on Jul 13, 2017 :
This page is terrible wrong, it has not been updated since how many years 5?6?...Gasoline yes is next to free, every thing else is sky high, with currency restriction there are three legal and one real exchange rate, legal the most you get 2600.00, but when you pay for anything it is at street dollar of 8000 wich is ilegal by the way, come on eggs are sold for 15000.00, visit a doctor its 100000.00, medicine if you find it even worse. They are cuoting sites that don't even show prices anymore. By the way Google financial has not published Venezuelan exchange rate since 2008. and all other serious site guesstimate the rate. The thing is people earn in Bs. eat with Bs. live if they can with Bs. Privileged few have hard currency and play with black market exchange rates, Dollars to Bolivares is great, but paying Bolivares to Dollars is hell, seen from that perspective this is one of the most expensive places in the world to live where only two things are cheap, gas and life, here people are dyin' for the lack of the most esencial commodities in health, medicine, food and security.
#Carlos V on Jun 27, 2017 :
Hello, I'm writing this just to clear up things a little, and help possible visitors.

1) The information above is wrong. The country is currently so mess up that I cannot blame the website for their information, you need to live here to understand. It's much cheaper to live here (but live quality is poor).
2) In Venezuela is not possible exchange local currency (Bs) with USD or viceversa, there is a gov restriction on that, which generated a black market for currency (Everybody wants USD, so the price is high). There is a legal way to exchange but its very complicated and pay less than 25% of the real exchange rate defined by the black market (let's call the black market Currently Jun-2017 in the black market 1 USD = 8000 Bs, and currently the gov is buying 1 USD and gives you 2000Bs.
3) As the black market dollar changes everyday, its very hard to keep the prices updated, sometimes they are almost free (Thinking with USD in hand)... other times they are just Ok, and just a few times they are too high for a world standard.
Some Examples (for today):
2L Cocacola = 7000Bs (Less than 1 USD)
Dinner for 2 Person, informal rest = About 35000Bs (About 4.38 USD)
Dinner for 2 persons, formal and nice rest = 72000Bs (about 9 USD)
Fill the tank with gas = About 500Bs (about 6 cents... No joke)
A nice apartment (About 40000 to 100000 USD)
1Kg of chicken breast (About 20000Bs, 2.5 USD),
Local Phone service including internet (700Bs, about 0.1 USD!, yah I know...)
Directv with premium channels (about 2 USD)
A complete groceries cart with cleaning stuff, food, and all... less than 250 USD. Many people survive here with 30 USD per month!.
Many things are not produced here, like Green apple, so its expensive because come from other countries. However stuff that is produced here is cheap, like 1 Lb of avocado in 0.25 USD (Again, worldwide thinking), for local citizen they seem just OK, or even expensive.

By the way, if you come here and wonder how to exchange, ask a tour guide, hotel reps, or airport fellows. Check dolartoday to have a sense of the exchange rate. Be very careful, insecurity is currently a big concern (Don't trust the authority, some of them are good, but unfortunately many of them are not).

Of course there are also save places to live and enjoy, landscape and weather is nice here, just that you need someone to show you the green and red zones, and stay in the green.

Hope this helps!
#Ricardo Clark on Jun 18, 2017 :
Absolutely wrong! Your cost of living compilation is way out of reality. I will built a more realistic list based in the real exchange rate ( black market)
Venezuela might be the cheapest country in the world if you calculate the black market exchange rate. But keep in mind the standard of live is also one of the lowest in the world. The main concern is the insecurity in the street where your principal enemy might be the police.
I will write more about this issues. next time. Will you send an spread sheet to fill up the information?
#Anonymous on May 21, 2017 :
From reading the comments I see that above mentioned prices are not correct.
How much in $ actually cost price of sqare meter to buy apartment in the city center of Caracas?
#Jimmy on Apr 12, 2017 :
I do NOT understand this;

Avarage monthly salary is 30 USD.

A kilo of apple is 4 USD.

An avarage rent is 300 USD

A liter of gasoline is 0,01 USD

That is just nonsense to me. Can anybody explain if this country is in another world?
#Luka on Feb 05, 2017 :
Hallo, can anyone say something about the actual situation in Venezuela, food, drink, transport, safety and which is the best way to exchange the money in Caracas, I travel in 2 weeks. Are any possibility to pay there with Credit Card?
#ALex on Jan 20, 2017 :
This data is not trustable. You have to either use the official rate or use the black market one. For example Mc donalds does not cost USD 5. Today's rate at is 3.500, and you can easily eat a Big Mac for VEF 7.000 which is 2USD. Utilities 11 USD?? it would be 40.000 VEF which is a lot. I live in a 3 BR apartment, 10 MB ADSL internet conection, I've got four aircos at home that are always on, and I hardly pay 2USD for utilities. Energy and internet in Venezuela is almost free. Transportation is now VEF 100 and a dolar costs 3.500, imagine that, with a dollar you can travel like 35 times in a bus, if you travel in subway which costs 4VEF....

Overall, I think this information is not correct at all. Ahh we earn 20 USD/month that's true. And forget the official rate for dollars, they just don't exist. The country is led by the black market price.

Is there food? Yes, there is any type of food in Venezuela, you can buy whatever you want from the resellers (bachaqueros) they do have a lot of things at a 5x the "controlled" price.
#Anonymous on Jan 11, 2017 :
Jimmy: $200 at the official rate your family will get from the banks (VEF 700 x $1) is around VEF 140.000, which is around 40% over current minimum wage and maybe enough for a family of 2 to buy food for two weeks, they could even make it last 3 weeks if they're really smart about it and get a lot of veggies and not much animal protein, but for this they'll have to avoid scam prices for food Venezuelans are addicted to (corn meal, bread, rice and pasta). The same $200 at the current black market rate is almost 5 times more (you can get around VEF 3.300 for $1) and will definitely be more than enough for one month including paying for all their monthly services.
My recommendation, find someone with a good level of spanish and an understanding of the black market in Venezuela, so that you can get your family a better deal. Unfortunately many Venezuelans, specially and sadly in poor families that need it the most, are in a very bad situation in receiving this kind of help from abroad, even if they have friends or family wanting to help them.
#Jimmy on Jan 08, 2017 :
I just sent my family 200.00 American dollars via a national bank (wells Fargo). I would like to send more but am not sure if I am even helping. Can anyone tell me what my family is able to do with 200 American dollars sent via a bank? This means the bank controls what they get (the official exchange rate) instead of the street rate. How much food and necessities can they buy in this manner? I would ask them but I don't speak much Spanish so much is lost in translation.
#Oleg Yatskar on Nov 26, 2016 :
Adriana: I feel so, so, so sad for what is happening in Venezuea right now. I am from former USSR and even with the limited economic liberalization and political freedom we have since its collapse been able to enjoy a so much greater level of wealth and comfort from the life you ar describing . I hope things change soon...
#adriana on Nov 21, 2016 :
2000 VEF equals $1USD so far (it will be vef 3500 by december)

Venezuela is the best and cheapest country to live if you make money abroad and live over there. Make sure you pack essentials, rice, sugar, toilet paper, beans, etc for at least a year, and bring all your clothing and shoes, never buy anything at the shopping malls except for food at a fancy restaurant if so, best restautants are at las mercedes and they are on the street out. Bring ibuprofen and cold medicine, upset tummy medicine, and shampoo, soap, deodorant, etc. then, you will live like a true queen or king. A lot of people will buy money from you, especially doctors and business owners. make sure your home has a water tank available and lots of candles just in case electricity collapses. Water service is most likely to collapse than electricity, and prevent yourself from a heart attack when filling your car up with gas, completely free!!Good luck!!
#Oleg Yatskar on Oct 12, 2016 :
Wow people...I am Ukrainian and we have a war going on, we have no oil and our country is one of the poorest in Europe... Yet even we live better. The average monthly salary in my city is about $160 and at the same time to feed a family of three people (two parents and a child) would cost the same amount. So if two adults work eating well is not a problem at all. The other salary goes to pay for internet, electricity, water, heating and transportation...I want to underline - that is a very bad, unfortunate situation in my opinion because to live well one would need about $500. At the same time we protest freely, we go out at two o'clock at night and guns on the streets are almost unheard of. What I don't understand is how you people got to that point when you experience so much hardship??? I truly hope and pray for your troubles to end soon... Support each other and fight your government I guess...
#Cassandra Toscano on Aug 27, 2016 :
I'm an Australian that just spent three months living and working (and earning Bolivares Fuertes) in Caracas. I just updated some of the information on this page and I'm not surprised my figures triggered the spam filter. As #Juan said a year ago (and the situation has drastically worsened since then), gross corruption in government and military has crippled the economy and halted access to food, medicine and other basic necessities. A trusted friend has witnessed military seizing truckloads of food and domestic goods where they are imported at the border with Colombia. The military then resell that food back to Colombians, leaving Venezuelan supermarkets empty.
Venezuelans who do manage to import food must bribe the military and other officials in order to bring in their shipments. For that reason, food is astonishingly expensive (especially in relation to the minimum wage). The scarcity gives vendors the opportunity to charge arbitrarily high prices. I have seen boxes of cereal for US $16 and jars of Nutella for $25.
Official exchange rates are as official as the easter bunny. The reality is that today 1000 Bolívares is US $1. A box of condoms costs almost 25% of the minimum wage, which is $16 per month. Venezuela has the highest recorded rate of unwanted births in Latin America. I didn't know what price to enter for "milk" because there is none. Caraqueños definitely don't pay $400 a month in rent because 40% of them live in ghettos or semi-constructed buildings like the Torre David that were abandoned after Chavez had them expropriated.
Likewise, I didn't know what to enter for utilities because that same 40% live without running water and electricity. Those who can pay still may not receive utilities. The government withholds basic utilities as a form of control, punishing municipalities that support the opposition or where demonstrations have taken place. In 2014 there was a riot outside our building that killed 13 civilians. Since then, ours and other buildings in the area receive running water for 30 minutes, 3 times a day.
As for bottled water, the government regulates the price to a figure that doesn't make sense in a global economy. At unrealistically low prices, vendors simply don't sell bottled water because it is legally impossible to make a profit. Soft drinks are much easier to find, so people drink coke, sugar-free of course, because there is no sugar.
But hey, at least petrol only costs 1 cent per litre.
#Jay on Aug 05, 2016 :
Prices are well too high, my Venezuelan friends earn $20 a month, you think apartments really cost $400 a month?? No that's just the online price..

You must account for the massive difference in street $ exchange rate, making this the real cheapest destination in the world
#Armando on Jan 23, 2016 :
If you're going to travel to Venezuela (which is not advisable) if you wish to exchange currency to black market price will be tricky, for 2 main reasons, it's dangerous to make such transaction in cash (highest denomination bill in venezuela is Bs 100 about 10 cents of a dollar and because there are much robbers/scammers which can even lead to kidnap/death. Ask for locals you trust for help and get on facebook groups like TuLechugaVerde or and always ask for references in that page and wait for many to appear before doing anything.
#Armando on Jan 23, 2016 :
Those prices are wrong, you should take rate -10% otherwise you're just taking the government's word.
#Jordi on Dec 06, 2015 :
Me gustaría ver los precios en VEF ya que no se que tipo de cambio se aplica,ya a dia de hoy (7/12/15) por un Euro obtengo 1000 boliviares en el mercado negro según se puede ver en ¿Alguien me puede orientar?

I would like to see prices in VEF because i don't know with is the rate applied, today (7/12/15) for one Euro i can get 1000bs i can see in dolartoday, ¿anyone can help me?
#Antosha on Oct 28, 2015 :
Hello, are the rates at true ? Is it possible to change 1 dollar for 817 BfZ ?
#Juan on Jul 31, 2015 :
I just filled out your "cost for living" study from Caracas, Venezuela. I live there and I am 49 years old and I would like to explain the data that I just sent.

Venezuela lives under a very disastrous exchange rate control. We use, at least, 4 rates to exchange local currency into international ones.

The goverment has full control of this process but its system have been having serious crack since 2012. Venezuela imports as much as 70% of all its needs. Local production, of about the remaining 30%, it needs basic materials or equipments which need to be bought outside the country (its maintenance too).

If you are an importer of some basic foods and medicines, you could receive a Bolívares 6,30 per USD rate.

If you are an importer of some equipments or other raw material, you could receive a Bolívares 12 per USD rate.

If you are an importer of other marginal products (according to the goverment), you could receive a Bolívares 200 per USD.

When I said "you could receive" I want to say that there is not a transparent way to process your request of Dollars. Consequently, our economy is passing thru a very important crisis because there is not enough dollars to import all that our people need. Besides, there is a lot of corruption into these process. In consecuence, in Venezuela we live in an acute supply crisis that makes people make long lines to buy imported products with the lowest exchange rates. If you do not want or can not do lines, you will buy from street resellers but at prices much higher.

The goverment thinks that the rest of the needs of the country does not exist. For example, a laptop, software, cars, smartphones, perfums, shoes or cloth and many other categories that they usually not receive any of these official exchange rates. If you want to import some of these products, you have to buy USD in the black market at the 675 Bolivares per USD rate (just one year ago it was Bolívares 70 per USD so we are suffering a brutal inflation too -estimated in 180% annual).

As you can see, we have a lot of variations between imported products at 6,30 rate and imported products at 675. It is a crazy situation.

Gasoline is almost free but an apartment or house for a middle class family is appraised using the black market rate (the same for vehicles, computers, smartphones and so on).

The minimum wage today is about Bolivares 7.500. it could be USD 1.190 or USD 625 or USD 37.5 or USD 11.11 per month, depends on which exchange rate you decide to use.

To average a balanced way, I used an exchange rate of Bs. 250 per USD in my entries. However, when you ask for the cost of appartments I used the actual black markets exchange rate or 675 Bolivares USD.

I did my best to explain a very complex and absurd economy in this country.
#Anonymous on Jul 23, 2015 :
Good morning, i’m from venezuela, sadly, we have a economic distortion, because we have 3 change types.

Officially Type 1 (but only for government people) 6.30 VEF = 1 $
Officially Type 2 (but only for government people) 12.00 VEF = 1 $
Officially Type 3 (sometimes offered to industries) 199.50 VEF = 1 $

The other people not shown on this list, go to the parallel market, offered a 620VEF = 1 $, that’s why it’s seems non sense.
#Mario on Jul 17, 2015 :
To this day, the black market exchange rate is +600 VEF per dollar, but our minimum wage is still the same (+7000 VEF) [yes, 15US$ per month] and the government claims this the "highest" minimum wage in Latin America (because they're still calculating it with the inexistant, official exchange rate at 12 $ per Bolívar).

It's a complete mess. Things like shoes (specifically, Converse Chuck Taylors) cost now more than 15000 VEF... 1250 US$ for a pair of shoes!!! The only cheap stuff you can find are the regulated products (milk, toilet paper), well, if you find them, cause they're so cheap the companies aren't making them because there's no profit.
#diego on Jul 08, 2015 :
i find these statistics really unrealistic as to what really is the cost of living in venezuela.The bolivar is today at 500bs per dollar (black market rate,the one almost everything is based on) and to put that in contrast, the minimum salary is around 14 dollars a month,yes, a month.The official exchange rates, which there are 3 (CENCOEX for companies-6.30bs, CENCOEX for travel-12bs and SIMADI-190bs). These 3 exchange rates are virtually non existent to the common people and most tourists rely on the black market for bolivares which makes them kind of rich given the high exchange rate, but really poor to the people that earn in bolivares living in venezuela
#CLARENCE PKS on May 11, 2015 :
Dear All, I will be travelling to Caracas in a week's time for a duration for 4 days. It is my first time travelling to Venezuela and the information provided was very useful in understanding the financial situation. I would like to seek advice on the accessibility to local currency from the black market? Or is USD a preferred currency in circulation. Thanks.
#Alguien de Venezuela on Apr 23, 2015 :
El salario minimo son 15$ AL MES. si, AL MES. el cambio de divisas legal no existe en venezuela, todo se basa en el mercado negro de dolares 1 dolar = 290bs .. sueldo minimo "4000bs" .. 1 iphone 6 = 210000bs.. los datos de esta pagina no son realistas.
#Admin on Apr 21, 2015 :
We use statistical models, but various exchange rates makes correct calculations impossible.
#alb3rto on Apr 20, 2015 :
I noticed that the data about Venezuela was recently updated. However the system makes its calculations using the avg of all data collected for each field. This approach is very inaccurate for countries like Venezuela (high inflation, unstable exchange rate, etc).

I think that for better results, the older data should not be considered.
Another option is to apply a statistical model to normalize the data and discard the extreme values, e.g. if the 90% of the data for an item are around 100$, a value of 2$ doesn't make sense.
#anyone on Apr 18, 2015 :
Today the black market $ was 276 BV per doolar. So, if you come to Vzla with $ income and sell them in the black market, you can have a lot of money. Yet, is it worth it in a country that you can be murdered just for going to a supermarket or pharmacy by some man that want your car or your cell phone. No way. Do not come to live here unless you want to live jailed in your own home.
#Ender on Mar 22, 2015 :
For the people who don't know Caracas is a expensive city. We have one of the highest inflation rate and there are four exchange rates... 6.30 , 12.00 , 190.50 and 255 (last one is today´s black market rate).
Most of the prices showed here are using 6.30VEF per each USD (Which is an official exchange rate as i mentioned before) and i would say anyone (alone) can live fine here with VEF 30000 or more (about USD 4761 or more at the same exchange rate)
#Jfarias on Jan 20, 2015 :
#Mohammed Nasan. 1500VEF is not enought to get you through the week let alone live to live. I make aproximately ten times your monthly salary, and I cannot afford to rent anywhere in this city. Curious thing is that if you were actually paid in dollars, then you would be much better off. The current black market exchange rate is nearing 200VEF for each US dollar. Even though there is a FOREX freeze on currency in this country. Inflation has sky rocketed at the same rate as the black market dollar. Therefore even though you are paid at an official exchange rato of 6.3VEF per dollar you are consuming goods at a rate of 200VEF per dollar.
#Mohammed Nasan on Jan 15, 2015 :
I'm a new student in Caracas, Venezuela salary 1500 VEF + 150 $ , is this sufficient for living ? Please reply :)
#Rafael Morante on Jan 02, 2015 :
Hi!, black market exchange rate is currently on 176,90 VEF per $...

It all seems to point towards even greater inflation and government, whether they want it to or not, will have to take strong measure... The current president pointed a couple days ago that economic reforms will be in place soon, but was very evasive in means of any detail of this new policies.
#Moderator on Dec 04, 2014 :
VEF currency is currently disabled due to black market exchange rates
#ryan on Nov 23, 2014 :
the black market exchange rate is rising drastically, however so is inflation. Since i was there a month ago it has risen 20% and currently at 1USD = 123 VEF (check this website to monitor it Last month some of the prices in Merida, Venezuela were as follows; 1 small beer at a bar = 15-25 VEF and a normal 12 oz beer = 20-30 VEF, 1 liter of rum at the liquor store 150-180 VEF and at a club 550 VEF. My favorites are the 750ml bottle of Ron Superior that costs $1.25 USD and a case of 36 small bottles of beer that cost $4.75.
#cadukeson on Aug 16, 2014 :
#ekaterini like 1.5 minimun salary working about 5 hours
#ekaterini on Aug 04, 2014 :
what is the salary for a primary school teacher who has 14years experience?
#Rafael Morante on Feb 03, 2014 :
Hi John, that's correct...

The government has introduced some policy changes to exchange control, things like, for example:

-Tourists have special points within ports of entry to Venezuela where they can exchange foreign currency for VEF (local currency) at an exchange rate of 11.36 VEF x 1 USD.
-Supposedly there will be law reforms that will permit a "more free" currency market for investors and enterprises.

In real life this doesn't really address the underlying issue and the black market is still going strong: today for example 1 USD goes for 81.46 VEF!!!

Any knowledgeable foreigner can get good value for a tight dollar budget..
#john on Jan 25, 2014 :
so rafael, if someone in caracas had a thousand dollars in cash then they would have ten times local buying power in bolivars? import dollars, covert and live very well?
#Rafael Morante on Jan 23, 2014 :
Last minute update:

Venezuelan government yesterday announced that the exchange rate will vary from 6.3 VEF per USD to 11.3 VEF per USD (with a floating price marked by auctions) for ALL but "basic" economic activity (the only economy sectors that will still enjoy the "preferred" rate at 6.3 VEF per USD are medical, Oil industry, Food among others that rely heavily on imports and are deem high priority).
#Rafael Morante on Jan 21, 2014 :
Btw, I didn't answer the question about pricing for rent:

The CHEAPEST apartment you can rent in Caracas, for example, goes for about 15,000 VEF monthly... That means 2380.95 USD (Monthly) by the government-rate and 208.33 USD by the black market value!!!...

Get the idea?!... The moral of the story is that hard currency (foreign currency, for that matter) governs local economy. If you come as an expat and exchange your cash greenbacks at black market rate, you'll find Venezuela to be a really "cheap" place to be... But make the same type of expenses with a credit card (to which you will be charged by the official exchange rate) and you'll weep because of how incredibly expensive everything is...

That's the reason why "exchange mafias" (with deep government connections) have emerged: if you have means to obtain foreign currency at the official rate, you just might come back to Venezuela and inject that capital into the black market (and will get rich by doing it).
#Rafael Morante on Jan 21, 2014 :
Hi Shay!, sorry I didn't catch your post earlier!. Perhaps an example could clarify what I'm talking about:

Venezuela's minimum wage is 3,270 VEF (monthly); the government currency exchange rate control sets the exchange rate at 6.3 VEF f/e USD, that means roughly 520 USD. Black market price currently floats around 72 VEF f/e USD; this means a minimum waged Venezuelan makes 45.41 USD a month..

The reason why black market currency inflates is quite simple: the official exchange rate is almost nonexistent... Private businesses don't have access to it to continue functioning; they have to go into the black market and since their op-cost raises, so does pricing in local currency for virtually any commodity you can think of (Keep in mind that Venezuelan Commercial Policy is a huge fail, private foreign investments have been withdrawn and local production is almost nonexistent as well: basic goods are all imported)

The result is a highly inflationary economy..

Differential (for the private sector) to get the low-cost hard currency comes down to jumping through a lot of hoops or having the right government connections, and even then the amounts awarded (if any) often don't cover the actual needs, so incursion into the black market is quite common: every commercial activity right now responds to the black market currency.

This also applies to "natural citizens" (meaning a non-corporate figure)... If you, as a citizen, want to: Travel abroad on vacations, to Study or to Receive medical treatment. There's a cumbersome amount of paperwork to do and a big list of requirements to regulate foreign currency designation and approvals.

For Vacations, for instance, you could only get 500USD max. in cash and 3000USD max. in Credit Cards (which also have to comply with specific requirements: gotta be 3 credit cards max. and all from the same bank, have to be older than 6 months, etc.)... The amounts awarded here could be less, it depends on where you are travelling to and the length of the trip. For almost any other case (medical treatment, studies) you are required to have a bank account outside Venezuela (in foreign currency, of course) as the amount typically approved in cash is very little.
#Shay on Dec 24, 2013 :
Rafael Morante based on what you have said everyone would have to exchange their money on the black market then pay for everything in U.S. currency. Does this mean the whole country operates in allies. If not and there is only a handful of people making exchanges on the black market I still do not understand the amount legally a person makes and how much they legally have to pay for rent. No matter how you slice and dice it the amounts do not make any sense to me.
#Rafael Morante on Dec 17, 2013 :
To all people that doesn't understand Venezuelan Economy Dynamics and are confused because the contradictory data: Venezuela has a Currency Exchange control since year 02-03'(roughly 12 to 13 years now) and there's strong government restriction to Dollars...

Common Venezuelans have to jump through an impossible series of hoops to obtain a very little amount of dollars for travel, imports or whatever economic activity. This has created a parallel market in which the dollar value ranges from 6 to 10 times its "official" government-sanctioned value... That's why you see absurd prices in many categories compared to actual income; parallel markets.
#shay on Dec 16, 2013 :
I have a question how can you make 160.00 a month and pay rent of 800-1500 a month. this does not make sense.
#Ricardo Alberto Duran on Oct 05, 2013 :
Average Monthly Disposable Salary (After Tax: 814.00$? Really? I live in Caracas, and that would be VEF Bs 5128,20 and that's absolutely WRONG!!! I'm using official exchange rate.

Actually, the salary is VEF Bs 2.702,72 which turns out to be USD 429 (before ANY tax). Plus, most of the private services, food and drinks, clothes and another expenses ar calculated day after day based upon a parallel currency (which has skyrocketed to 1 USD = 47,50 VEF today).