For the second consecutive day, the European currency has risen in price in informal sales in Cuba, reaching 360 pesos.
After a break of just 24 hours, which took place on Saturday when none of the three reference currencies increased in the Cuban informal market, the euro has seen two consecutive days of increases on Sunday and Monday.
In the case of the dollar, on April 15, it remains unchanged and maintains its average selling price at 350 CUP, as reached on Friday.
The Freely Convertible Currency (MLC) continues to have an informal exchange rate of 285 CUP.
Exchange rate today 04/15/2024 - 8:01 am in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 350 CUP Exchange rate of the euro EUR to CUP according to elTOQUE: 360 CUP Exchange rate of the MLC to CUP according to elTOQUE: 285 CUP
The exchange rate in Cuba has shown no signs of relief for weeks, according to the daily rate from elToque, which tracks fluctuations in the informal currency prices in the country.
Days, weeks, and months go by, and the unofficial exchange rate for foreign currencies continues to rise in Cuba. Cubans' salaries are decreasing, and the national currency is plunging into the abyss of devaluation.
Meanwhile, beyond the public acknowledgment of the situation, the Cuban government continues to offer no concrete proposals to establish an official exchange rate that would eliminate the informal currency market in the country.
Over the past year, the Cuban peso has undergone a historic devaluation, severely diminishing the purchasing power of the Cuban population and dramatically affecting both wages and savings.
The currency instability in Cuba highlights the severe economic crisis the country is experiencing, exacerbated by the lack of effective policies to mitigate the plunge of the national currency.
The reference rate from elToque is calculated based on an analysis of buy and sell advertisements for the three main currencies published on social media and classified websites. From this analysis, a price is established that helps determine the values of the primary currencies circulating in the country.
However, it should be noted that the representative rate is determined based on buy or sell announcements; that is, these are not finalized transactions, but rather express the intentions of the participants in that market. Therefore, the shared figures should be considered only as a reference.
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