The value of the dollar in the Cuban informal market exceeded in the last hours the threshold of 300 pesos and It is listed this Tuesday at 301 CUP, a record sales figure that confirms that at the moment the currencies show no sign of stopping their rise.
The European currency, for its part, remains at 305 CUP, four pesos above the dollar, as revealed by the daily rate of the independent media elToque, which records the oscillations in the informal price of currencies in the country.
The Freely Convertible Currency (MLC), which has been trading for a week at 260 CUP per unit, does not rise either.
The median of values registered in the last 24 hours marks purchase offers for the euro at 305 CUP and for sale at 307 pesos, two pesos more than its current value, which could anticipate that it will rise in the coming hours.
The dollar, for its part, registers an average of 300 pesos in the purchase and 303 on sale, another sign of imminent increase in value.
In the case of the MLC, the median is 260 in both acquisition and purchase.
And analysis on the movement of currencies in the informal market published by elToque pointed out in recent days that the coup de grace of the Cuban peso was the announcement at the beginning of 2024 of increases in fuel prices and public transportation rates, because even though such measures were not carried out due to a computer failure in FINCIMEX's trading system, the announcement had an immediate impact on the foreign exchange market.
Added to this would be "a context of high uncertainty and economic instability, without specific government projections, which leads to the persistence of the conditions that drive the demand for foreign currency and the supply remaining restricted."
Pavel Vidal, Cuban economist and principal researcher at OMFi, assured that Since the end of December 2023, an increase in the demand for currencies above the supply has been noted in the data monitored on classifieds websites.
However, the economist warns that in virtual spaces Demand from buyers willing to buy the currency at the current price begins to fall, something that he estimates could end up slowing the increase in the price of the reference currencies.
Despite a temporary drop in their buying and selling values at the end of December 2023, in a period of just a few days the euro, the dollar and the MLC not only recovered their previous values, but have also maintained a sustained rise to record prices.
Many on the street agree that the increase in the price of currencies in the informal market is ultimately not good for anyone because it is as if inflation had no limits.
The reference rate of elToque It is prepared after the analysis of the purchase and sale advertisements of the three reference currencies 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.
However, the aforementioned media clarifies that its representative rate is formed from purchase or sale announcements, that is, They are not concrete operations, but rather they express the desire of the actors who participate in that market. That's why they insist that the shared figures be taken only as a "reference".
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