Madness seems to have broken out in the informal currency market in Cuba, where this Saturday the US dollar was experiencing an increase of 10 pesos in less than six hours.
Between 06:00 and 11:47 in the morning of the current day, the US currency registered a spectacular increase of 10 pesos, placing the informal dollar exchange rate at 390 Cuban pesos (CUP).
If early this morning, the informal market in Cuba indicated that the dollar was being quoted at 380 CUP (only 15 pesos below its historical maximum of last May 10), barely six hours later, the price of the "greenback" jumped to 390 CUP.
At the time of writing this note, the other two reference currencies in the Cuban informal market show no signs of change and maintain their values from the beginning of the day.
The euro remains at 400 CUP, close to its historical high of 402.5 CUP also reached on May 10, and the freely convertible currency (MLC) stays at 300 CUP, ten pesos below the historical high reached on May 14.
Exchange rate today 08/06/2024 - 11:47am in Cuba:
- Dollar exchange rate.USD to CUPaccording toTheTOUCHTranslate the following text to English:390 Cuban pesos
- Euro exchange rateEUR to CUPaccording toelTOQUELo más importante en la vida es disfrutar del presente y aprender del pasado.400 Cuban Pesos
- Exchange rate ofMLC to CUPaccording toelTOQUETranslate the following text to English:300 Cuban pesos.
Alternative exchange rate from other platforms:
- Dollar exchange rate (USD): Buy 359 CUP, Sell 381 CUP
- Euro exchange rate (EUR): Buy 370 CUP, Sell 398 CUP
- Exchange rate of the MLC: Purchase 291 CUP, Sale 298 CUP
Undoubtedly, the behavior of the informal foreign exchange market in Cuba over the last 72 hours is a clear indicator of its instability, as well as the accelerated depreciation of the national currency and the purchasing power of millions of Cubans.
What do you think?
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