The euro and the Freely Convertible Currency (MLC) woke up this Tuesday with new record sales figures in the informal market in Cuba, in what constitutes another blow to the Cuban peso, which is becoming more devalued every day.
The average sale of the euro reached 300 pesos per unit in the last few hours, as revealed by the daily rate of the independent media elToque, which records the oscillations in the informal price of currencies in the country.
This is the highest value reached by a foreign currency in Cuba since 2019. elToque began to document the ups and downs of the three reference currencies in informal trading.
The average sale of the MLC, which reaches 260 CUP.
The dollar, for its part, remains at 295 pesos this February 6, price at which it arrived on Monday.
The median of values registered in the last 24 hours marks purchase offers for the euro at 296.50 CUP and sales at 300.
The dollar, for its part, registers an average of 293 pesos when buying and 295 when selling.
In the case of the MLC, the median is 255 when acquiring it and 260 when selling it.
In addition to the median values, elToque usually publishes the minimum and maximum values reached by the reference currencies in the informal market.
In the case of the euro, in the last few hours it has been proposed at up to 310 CUP per unit, while the dollar has been proposed at 305 pesos. The figure drops to 300 in the case of the MLC.
The new record sales figures in the informal euro and MLC market take place in the midst of a critical economic context, marked by the recent dismissal of Alejandro Gil as minister of economy.
Previously, the government also announced the delay in fuel price hike after an alleged cyberattack on the CIMEX marketing system.
These decisions were preceded, in turn, by the announcement that the government prepares to the intervention of the informal foreign exchange market in February.
At the end of December, shortly after the Prime Minister Manuel Marrero Cruz would announce that the official dollar rate in Cuba would be changed At the beginning of 2024, the price of the three reference currencies in the informal market suffered a temporary drop in their purchase and sale values.
Nevertheless, In a period of just a few days, the three currencies not only recovered their previous values, but have also maintained a sustained rise to record prices.
On social networks, not a few anticipate that they will continue to rise.
For several months the Cuban regime has been trying to blame elToque of promoting a high exchange rate that - in the government's opinion - harms the Cuban economy and triggers inflation on the island.
The reference rate of the aforementioned independent media is prepared after analyzing the purchase and sale advertisements of the three reference currencies 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.
However, elToque clarifies that its representative rate is formed from purchase or sale announcements, that is, they are not concrete operations, but rather they express the desire of the actors who attend that market. Hence they insist that the figures shared be taken only as a "reference."
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