The dollar goes for more: The price of the US currency rises in the Cuban informal market

The euro and the Freely Convertible Currency (MLC) remain unchanged.

Billete de cien dólares y dinero cubano (Imagen de referencia) © CiberCuba
One hundred dollar bill and Cuban money (Reference image) Photo © CiberCuba

The dollar This Thursday dawned with a new record sales figure in the informal market in Cuba, in what constitutes a new chapter in the resounding fall of the Cuban peso, which is becoming more devalued every day.

The average sale of the dollar go up two pesos and reaches 297 pesos per unit, 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 the US currency in Cuba since 2019. elToque began to document the ups and downs of the three reference currencies in informal trading.

The euro and the Freely Convertible Currency (MLC), for their part, remain unchanged: 300 pesos for the European currency and 260 in the case of the MLC. The average sale of the MLC also rises, reaching 260 CUP.

The median of values registered in the last 24 hours marks offers for the euro at 300 CUP both in the acquisition and in the sale of the currency.

The dollar, for its part, registers an average of 295 pesos when buying and 298 when selling, which could be an indication that it could continue to rise.

In the case of the MLC, the median is 258 when acquiring it and 260 when selling it.

Median purchase and sale values of the three reference currencies in the Cuban informal market (elToque)

In addition to the median values, elToque It 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 308 pesos. The figure drops to 280 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 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.

Despite a temporary drop in its buy and sell values at the end of December 2023, 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., something that is very worrying for those who do not have access to these currencies 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.

Nevertheless, 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."

What do you think?


Filed in:

Do you have something to report?
Write to CiberCuba:

 +1 786 3965 689