Currencies are unleashed in Cuba: They are rising in price at a faster pace than they went down.

Euros, dollars, and MLC consolidate their recovery for the third consecutive day in informal selling prices.

Current events
CiberCuba Editorial

07/06/2024 - 7:18am (GMT-5)

The price of foreign currencies continues to soar in the Cuban informal market and shows signs of rising at a faster pace than the speed at which the values plummeted over almost three weeks.

This Friday, the dollar, the euro, and the Freely Convertible Currency (MLC) once again dawn with significant price increases compared to the previous day, with values that for the second consecutive day range between 10 and 30 pesos in increase.

The dollar rises by 30 pesos and climbs to 350 CUP.

In just 48 hours, the U.S. currency has risen by 50 units, something unthinkable a few months ago, when on average it would go up or down by three to five units per day.

The euro, for its part, rises by 20 pesos and stands at 355, just five pesos above the US dollar.

In the case of the Freely Convertible Currency (MLC), it increased by 10 pesos and its average selling price is now 280 CUP.

After a drop in average sales values that lasted almost three weeks, euros, dollars, and MLC are consolidating their recovery for the third consecutive day.

After starting to decline on May 16, the three currencies only took a day's pause in the fall, when on June 4, none went up or down in price.

The supersonic recovery of foreign currencies has generated hundreds, thousands of opinions in the last 48 hours, covering a wide spectrum: from those who pat themselves on the chest for not having sold and for having known how to wait, to those who say "THAT'S A LIE," and assert that the actual values of foreign currency sales conducted are different from the prices documented by elToque.

The conspiracy theories accusing elToque of "counter-revolution" are joined by mipymeros organizing campaigns to control the situation, another group accusing the UCI of shady dealings, and those who mock both sides.

The true everyday Cuban says: "What difference does it make to me how much it costs?"

And what is the Cuban government doing in the meantime? Nothing, sleeping and keeping quiet, or at most watching the gladiators fight in the arena while the Cuban economy advances, yes, backwards.

elToque did speak up this Friday and announced that it will strengthen controls to calculate the representative rate to keep intruders at bay who are inflating or plummeting values.

As expected, the first memes about the "moves" in currencies have already started to bear fruit, and comedians are finding material to make jokes.

Exchange rate today 06/06/2024 - 7:39 a.m. in Cuba:

Exchange rate for USD to CUP according to elTOQUE: 350 CUP.

Exchange rate of the euro EUR to CUP according to elTOQUE: 355 CUP.

Exchange rate from MLC to CUP according to elTOQUE: 280 CUP.

Alternative exchange rate from other platforms:

Dollar exchange rate (USD): Buying 329 CUP, Selling 358 CUP.

Euro exchange rate (EUR): Buying 339 CUP, Selling 359 CUP.

Exchange rate of MLC: Purchase 276 CUP, Sale 283 CUP. The informal exchange rate of Cuba offered here is not officially recognized or backed by any financial or governmental entity.