The quote of the freely convertible currency (MLC) in Cuba's informal currency market rose again this Tuesday, while the price of the euro and the dollar has remained stable for almost a week.
An increase of four points placed the MLC at 310 Cuban pesos (CUP), turning this tool of the monetary policy of the Cuban regime into the new protagonist of the unstoppable devaluation of the national currency.
The European currency does not move from the 400 pesos reached on Wednesday, May 8, a value that reduces the minimum wage established in Cuba (2,100 CUP) to 5.25 euros.
Compare the figure with the minimum salary established in Spain, where an hour of work is paid 8.28 euros, and it will be seen that a Cuban minimum wage worker earns a month little more than half of what a Spanish minimum wage worker earns in one hour.
Add to the above that the prices of many essential products such as food and hygiene are often similar to the prices they have in Spain. The calculation shows scandalous levels of extreme poverty, inequality and social exclusion.
For its part, the dollar remains in the 395 CUP reached on Thursday, May 9, in what seems to be a moment of precarious stability of its price in the informal currency market.
However, far from providing peace of mind, this trend keeps Cubans uncertain about whether the price of the US currency will remain at that astronomical price or will begin to decline.
Exchange rate today 05/14/2024 - 6:24am in Cuba:
- Dollar exchange rate USD a CUP according to elTOQUE: 395 CUP
- Euro exchange rate EUR a CUP according to elTOQUE: 400 CUP
- Exchange rate of MLC and CUP according to elTOQUE: 310 CUP
Alternative exchange rate from other platforms:
- Dollar (USD) exchange rate: Buy 391 CUP, Sell 395 CUP
- Euro (EUR) exchange rate: Buy 397 CUP, Sell 401 CUP
- MLC exchange rate: Buy 304 CUP, Sell 304 CUP
The informal Cuba exchange rate offered here is not officially recognized or endorsed by any financial or government entity.
In recent days, the independent portal elTOQUE shared an editorial in which He defended himself against the accusations of the Cuban government, who blames him for the current devaluation of the national currency.
In recent weeks the regime has intensified a campaign in its press media and on the social media accounts of its followers, aimed at discrediting the platform, which daily publishes the price fluctuations of currencies in the informal market.
In the opinion of elTOQUE, is nothing more than an attempt by the Communist Party to turn the web into "another scapegoat to justify its failure", instead of recognizing its responsibility in the crisis that is sinking the country.
What do you think?
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