APP GRATIS

New sales record for the dollar and the euro in Cuba

Two of the three reference currencies in the Cuban informal market rise in price after 48 hours of stable values.

Billete de cien dólares y dinero cubano (Imagen de referencia) © CiberCuba
One hundred dollar bill and Cuban money (Reference image) Photo © CiberCuba

Dollar and euro experience new record sales figures in the informal market in Cuba this coming year, as revealed by the daily rate of the independent media elToque, which records the price of currencies on the island.

The average sale of the US currency rose in the last hours to 276 CUP pesos, one peso more than the value it had held since last January 16.

It also goes up the euro, which today reaches 282 pesos on average in informal sales, two pesos more than in recent days.

It is the first time that both currencies have been sold at these prices since 2019, the year in which elToque began to report on the oscillation of currency values in street trading.

The freely convertible currency (MLC), for its part, remains unchanged this Friday and It sells for 250 CUP.

The median of the purchase and sale values registered in the last 24 hours marks purchase offers for the euro at 282 CUP and sale offers at 281 pesos.

In the case of the dollar, the median is 275 CUP when buying and 278 when selling.

The MLC, for its part, registers average acquisition and sale offers at 250 pesos.

Median purchase and sale values of the three main reference currencies in the Cuban informal market (elToque)

The return of the dollar, the euro and the MLC to their previous values was uncertain after the beginning of the Cuban government's Crusade against the informal sale and purchase of these currencies.

However, At the moment they seem to have overcome the temporary drop in their values in the informal market.

For several months the Cuban regime has been trying to blame elToque of promoting a high exchange rate that - in the opinion of the government - harms the Cuban economy and triggers inflation on the island.

The temporary fall that affected the three reference currencies began on December 22, just two days after the Cuban Prime Minister, Manuel Marrero Cruz, would announce that Starting this January the official dollar rate in Cuba would be changed.

At that time Marrero Cruz did not specify what the new value would be nor the exact date on which it will come into effect. Until January 19, the Cuban authorities have not made any official announcement on this issue.

Days after Manuel Marrero's public intervention before the National Assembly, he was the Minister of Economy in Cuba, Alejandro Gil, who assured that They will intervene in the informal currency market, which they described as "distortion."

The reference rate of elToque It is prepared after analyzing the purchase and sale advertisements published on social networks and classified websites. From this result, a price is established that is used to know the values of the main currencies that circulate in the country.

What do you think?

COMMENT

Filed in:


Do you have something to report?
Write to CiberCuba:

editores@cibercuba.com

 +1 786 3965 689