Venezuela Raises Minimum Urban Transport Fare to 190 Bolivares

The minimum fare for urban public transport in Venezuela has risen to 190 bolivars, effective August 1. This new rate aligns with an agreement between the national government and transport sector representatives, aiming to adjust fares based on the official exchange rate. Nelson Vivas, president of the Civil Association of Drivers of La India, explained that the new fare is equivalent to $0.25 USD at the official Banco Central de Venezuela (BCV) rate, which calculates to 186.66 bolivars. The fare was rounded up to 190 bolivars due to practical issues with providing change. Vivas noted that this increase is part of a monthly review mechanism established in May. However, the adjustment was suspended in July due to the national emergency caused by seismic activity on June 24, keeping the fare at 140 bolivars for that month. The updated fare structure continues to offer preferential rates for specific groups: students pay half the minimum fare, and senior citizens are exempt from paying.

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The amount was set as part of the adjustment mechanism agreed upon between the national executive and transport sector representatives.