Without respite: New record for the dollar and the euro in Cuba

The price of currencies does not let up in Cuba and they continue on a streak of increases that seems to have no end.

This Friday the dollar and the euro woke up with a new record average sale price in the Cuban informal market, as revealed by the daily exchange rate. elToque, which records the oscillations in the informal price of currencies in the country.

The dollar, which today adds six consecutive days of increases, rises to 350 CUP, two pesos more than the day before.

The euro, for its part, also rises two pesos and in its case is no less than at 355 pesos.

Only the Freely Convertible Currency remains unchanged today, which remains at 285 pesos per unit.

Days, weeks and months pass and the informal price of foreign currency does not stop in Cuba. Cubans' salaries are going down and the national currency is sinking into the abyss of devaluation.

Meanwhile, beyond public recognition of the situation, the Cuban government continues without contributing concrete proposals to determine an official exchange rate that eradicates the informal currency market in the country.

During the last year 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.

Regarding the behavior of the median values of currencies, in the last 24 hours, average buy and sell offers for the euro were recorded at 355 pesos in both operations.

The dollar, for its part, is being bought on average at 347 pesos and is being sold at 350.

In the case of the MLC, the median is 283 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.