The euro sets a record in Cuba's informal market for the fourth consecutive day

Since Thursday, the euro has been on an upward trend and far exceeds the value of the US dollar in the informal market.

4/28/2024 - 6:58am (GMT-5) |

Theeuro exchange rate, a record mark in the informal currency exchange market in Cuba for the fourth consecutive day.

Data from the independent presselToque They point out that this Sunday theEuropean currency is quoted in Cuba at 385 CUP, five pesos more than in theprevious day.

HeAmerican dollar It has been sold since Friday at a record figure of 370 CUP and thefreely convertible currency (MLC) maintains its value fixed at 290 CUP.

Exchange rate today 04/28/2024 - 6:13 am in Cuba:

Exchange rate from USD to CUP according to elTOQUE: 370 CUP

Exchange rate from Euro EUR to CUP according to elTOQUE: 385 CUP

Exchange rate from MLC to CUP according to elTOQUE: 290 CUP

Alternative exchange rate from other platforms:

Dollar (USD) exchange rate: Buy 371 CUP, Sell 372 CUP

Euro (EUR) exchange rate: Buy 380 CUP, Sell 380 CUP

MLC exchange rate: Buy 291 CUP, Sell 291 CUP

Currency Exchange in Cuba: No responses to price escalation

The Cuban government, aware of the problems of the informal currency market, has not yet presented effective solutions or clear proposals to stabilize the exchange rate and promote measures to reactivate the economy.

Meanwhile, in the informal market, the price of currencies continues to increase, without showing signs of stabilization, which aggravates the country's economic crisis.

The increase in the value of foreign currencies is explained by the dynamics of supply and demand in the informal market. Furthermore, the devaluation of the Cuban peso is accentuated by its limited need in everyday transactions, such as the purchase of gasoline or products in stores that operate in MLC.