For the second consecutive day the dollar, the euro and the Freely Convertible Currency (MLC) rise in price in informal sales in Cuba, according to what the independent media announced this Thursday. elToque, which monitors the ups and downs of currencies in street-level trading.
The dollar, which has already added five consecutive days of increases, rises to 348 CUP, two pesos more than the previous day, and is approaching the threshold of 350 pesos.
The euro, for its part, rises three pesos and reaches an average selling price of 353 CUP.
The average sale of the MLC, which reaches 285 CUP, as revealed by the daily rate of elToque.
"It's the endless story"; "Forex has no ceiling in Cuba"; "Even when?"; "The never seen"; "It is an abuse," say many Cubans these days who do not believe the tremendous devaluation of the national currency and their increasingly low salaries.
Over the course of a year The Cuban peso has experienced a historic devaluation, which has mortally wounded the purchasing power of the Cuban population and It has had a radical impact on both salaries and savings.
The exchange rate instability in Cuba highlights the acute economic crisis that the country is going through, accentuated by the lack of effective policies that mitigate the fall into the abyss of the national currency.
On the other hand, this new record confirms that the informal exchange rate of currencies remains unimpressed by the statements of Cuban Prime Minister Manuel Marrero Cruz, who in recent days after admitting the failure of the official exchange rate that the government established for currencies, urged to look for formulas to eliminate exchange duality.
Although Marrero Cruz recognized that this is an issue that greatly worries the population due to its impact on inflation and price formation, the government remains adrift regarding this issue.
Beyond the recognition of the situation, the senior Cuban official did not explain what “specific proposals” The government is planning to determine an official exchange rate that will eradicate the informal currency market in the country, so Meanwhile, the value of the reference currencies continues without showing any signs of slowing down.
Regarding the behavior of the median value, in the last 24 hours, average purchase offers for the euro were recorded at 350 and sales at 352.
The dollar, for its part, is being bought on average at 345 pesos and is being sold at 348, which could anticipate that it will continue to rise soon.
In the case of the MLC, the median is 280 pesos for purchases and 285 for sales.
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, it must be taken into account that the 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. Hence, the figures shared should be taken as a reference only.
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