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Venezuela leader hikes minimum wage 30 pct amid raging inflation

CARACAS: 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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