At the beginning of this Wednesday, June 26th, the informal currency market in Cuba wakes up with no changes in the quotations of the main reference currencies.
After a day in which dollars and euros increased their distance in relation to the Cuban peso, in the morning of this Wednesday both currencies maintain the same exchange rates as the previous day.
The US dollar (USD) continues to be quoted at 365 CUP, the euro remains at the price reached this Tuesday and stays at 375 CUP, while the freely convertible currency (MLC) remains at 300 Cuban pesos.
The representative rate of the informal market calculated by elTOQUE shows reference values and is calculated based on the median of the numbers written in advertisements for the buying and selling of currencies on social media groups and classified ad sites.
Although it is too early to predict if this relative "stability" will be maintained in the coming days, the truth is that the informal currency market in Cuba has been experiencing a certain calm or "miraculous static" in recent days.
The volatility of the informal currency market and the passivity of a government incapable of bringing order to economic and monetary policy keep Cubans in suspense, as they see the decline of the national currency worsen, devalued and turned into worthless paper in their pockets.
Among the recipients of remittances, black market operators, and the "new players in the economy," many foresee new increases in the price of currencies, considering the absence of "corrections" and economic and monetary policies aimed at halting the devaluation of the national currency, and achieving stability of the peso against currencies.
Exchange rate today 26/06/2024 - 8:42am in Cuba:
- Dollar exchange rateUSD to CUPaccording totheTOUCHTranslate the following text to English:365 CUP
- Euro exchange rateEUR to CUPaccording toelTOQUETranslate the following text to English:375 CUP
- Exchange rate ofMLC to CUPaccording toelTOQUETranslate the following text to English:300 CUP
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