The fear of a collapse runs through the Island. Whether it is the collapse of fragile and impoverished buildings due to the effect of heavy rains, or the collapse of the inconsistent Cuban peso which, for now, maintains its value for the second day in the informal foreign exchange market in Cuba.
After a week of slight disturbances and relative stability, the price of foreign currencies in Cuba's informal market once again starts this Sunday with "miraculous stasis", with no changes in their exchange rates compared to the previous day.
Nothing has changed in the last 48 hours. The euro maintains its selling price at 375 Cuban pesos (CUP), the dollar is trading at 360 Cuban pesos (CUP), and the freely convertible currency (MLC) remains unchanged at 300 Cuban pesos.
This "miraculous standstill" keeps Cubans on edge, who for years have been experiencing the volatility of the informal currency market and the inaction of a government unable to bring order to economic and monetary policies, as well as to set an official exchange rate that would allow citizens to access foreign currency without surprises.
Periods of ups and downs in the informal exchange rate occur cyclically, but increasingly pronounced, forming an indicator of the growing instability and uncertainty among the "new players in the economy", remittance recipients, and black market operators.
Exchange rate today 23/06/2024 - 10:03am in Cuba:
- Dollar exchange rateUSD to CUPaccording toelTOQUETranslate the following text to English:360 CUP
- Euro exchange rateEUR to CUPaccording totheTOUCHTranslate the following text to English:375 CUP
- Exchange rate ofMLC to CUPaccording toelTOQUETranslate the following text to English:300 Cuban pesos.
These values provide a quick reference for converting US dollars and euros to Cuban pesos, according to the informal exchange rate in force.
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