APP GRATIS

Currencies in Cuba: Sharp decrease in the price of the MLC in the informal market on the last day of the year

Euro and dollar remain unchanged.

Dinero cubano y tarjetas de MLC © CiberCuba
Cuban money and MLC cards Photo © CiberCuba

The value of the freely convertible currency (MLC) drops three pesos this last day of the year in relation to the previous day, and stands at 242 CUP.

The decrease in the average price of the Cuban virtual currency is part of a general drop in value that the three reference currencies have experienced in the informal market since last December 22.

In the case of the MLC, it reached a maximum value of 250 CUP on December 15, which it maintained until the 24th., date in which it fell to 248 CUP. On the 25th it dropped to 245 and will drop another three pesos this Sunday.

This December 31, the dollar and the euro remain at their values from the previous day, at 265 for the US currency and 270 for the European currency., according to the independent media elToque in the daily rate reported by the currency exchange rate on the island.

The fall experienced by the three reference currencies began on December 22, two days after Cuban Prime Minister Manuel Marrero Cruz announced that Starting in January, the official dollar rate in Cuba will be changed, although he did not specify what the new value will be.

In his speech before the National Assembly of People's Power (ANPP), Marrero did not miss the opportunity to criticize independent media that record movements in the currency exchange in the informal currency market on the island.

"We must put an end to the fact that a foreign country and a computer are projecting the exchange rate that will govern the country. Furthermore, this exchange rate is speculative and is taken as a reference to set all prices. abuses that today are at the national level," stressed the senior leader.

Days later, he was the Minister of Economy in Cuba, Alejandro Gil, who assured that They will intervene in the informal currency market, which they described as "distortion."

"The exchange market is one of the main distortions that the economy is facing and it is not by design. We did not design that exchange market that is operating in the country, but an important part of the currencies that non-state acquirers do so in that market," Gil said on the television program Round table.

In his speech, Gil did not offer details of how the regime plans to fix the economy and limited himself to identifying the "distortions" and ensuring that they will be resolved with "very well thought out strategies."

For several months the Cuban regime has been trying to blame elToque to promote a high exchange rate and, consequently, inflation on the island.

The reference rate of elToque It is prepared after analyzing the purchase and sale advertisements 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.

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