The dollar closes distances this Thursday with the euro and rises to 332 pesos per unit, two pesos more in relation to its sale value in recent days, as published this March 28 elToque in the rate that reports each day on the informal exchange rate of currencies.
This is a record sales figure for the US currency since elToque In 2019, it will begin to document the representative value of the three reference currencies in the island's informal market.
In the case of the euro and the freely convertible currency (MLC), both maintain today your values from the previous day: the European currency at 340 and the MLC at 275 CUP.
The value reached by the dollar further consolidates the strong devaluation and the unstoppable abyss into which the Cuban peso is sinking.
Historical devaluation
Over the course of a year, the Cuban peso has experienced a historic devaluation, with the dollar rising from 182 to 332 CUP and the euro from 185 to 340 CUP, which marks an increase that exceeds 80%.
This devaluation has dramatically eroded the purchasing power of the Cuban population and It has had a radical impact on both salaries and savings.
The exchange rate instability in Cuba highlights the acute economic crisis that the country is going through, accentuated by the absence of effective policies that mitigate the fall of the national currency. They are obvious symptoms of the profound flaws of the centralized and planned economic model imposed by the Cuban regime.
The lack of effective measures to stabilize the economy and improve the standard of living of citizens reflects not only an economic crisis, but also a leadership crisis, where ideological dogmas are prioritized over the well-being and prosperity of the Cuban people.
Median purchase and sale values of the reference currencies
Regarding the behavior of the median values, in the last 24 hours elToque marks stability in the average purchase and sale values of the euro (340 CUP) and the MLC (275).
The dollar, however, is being bought on average at 330 and It is selling at 333, which could be an indication that the US currency could rise in price even more in the coming hours.
In the case of the minimum and maximum values recorded in the last hours, the euro is between 290 and 350 CUP.
In the case of the dollar the oscillation is between 275 and 350.
At the beginning of the month, economist Pavel Vidal warned in the monthly report of the Observatory of Currencies and Finance of Cuba (OMFi) that the forecast models predicted that the value of the USD and the euro in the informal market could exceed in the remainder of March the 340 peso mark.
This March 27, the European currency reached the threshold of 340 pesos. The dollar, on the other hand, has less chance of reaching that figure before the end of the month.
The reference rate of elToque It is prepared after the analysis of 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, it must be taken into account that The 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 participate in that market. Hence, the figures shared should be taken as a reference only.
What do you think?
SEE COMMENTS (2)Filed in: