The price of foreign currencies in the Cuban informal market continues to rise this weekend, with asignificant rise for the euro, which reached, just this Sunday, the exchange price of one for 350 Cuban pesos (CUP), according to the reference rates published daily by the independent mediaelToque.
Precisely, on the previous date, after several days of stability,The euro rose three pesos in price, reaching 348 CUP, which have been exceeded this day to 350 CUP.
It had been April 3 the last date on which the increase of this currency became valid, which reached 345 pesos, according to the oscillations recorded byelToque.
For its part,The US dollar woke up this April 7 at 341 CUP, which means an increase of one peso. The last time this currency showed rising levels was on April 3, and it remained stable until this Sunday.
The freely convertible currency (MLC) continues at its price of 280 CUP, unchanged for several dates.
With the prices of this day,The dollar and the euro are setting a record in their value in the informal currency exchange market in Cuba, posing greater challenges for the Cuban pocketbook, who must use them to access services and products.
Let us remember that people who have dollars usually change them into Cuban pesosin the informal market because the buying and selling price is higher than the official one.
This dynamic influences the rampant inflation that affects Cubans, leading workers to become poorer every day in Cuba.
Recently,the prime minister of the island, Manuel Marrero Cruz, in a balance meeting of the Central Bank of Cuba (BCC), held in the presence of the rulerMiguel Diaz-Canel and other leaders and officials of the entity,recognized the failure of the banking process undertaken in August 2023, as well as the fiasco that represents the official exchange rate that was established for currencies as part of the “economic and monetary order.”
Marrero Cruz listed a group of proposals for “the implementation and control of government projections to correct distortions and re-boost the economy,” among which he mentioned“the determination of the exchange rate. That is a key issue, one of the issues that is taking even more pressure, especially the elimination of exchange rate duality,starting with the official 24 and 120, and see where we are going.”
But these announcements from the mouths of Cuban leaders are not new. At the end of December, after accusing independent Cuban media of encouraging high prices on the island,The Havana regime announced that starting in January 2024 it would change the official dollar rate. However, life has remained the same (or worse) since then.
The reference rate ofelToque 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. HenceThe figures shared should be taken as a reference only..
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