After two days without movement, this Monday the informal currency market in Cuba shows signs of instability again.
The discreet rise of two units experienced by the United States dollar (USD) in the informal currency market in Cuba leaves its quotation at 362 Cuban pesos (CUP).
On the other hand, the euro suffered a significant drop of five pesos, leaving its exchange rate at 370 CUP. The freely convertible currency (MLC) remains unchanged and is quoted at 300 CUP.
The "miraculous stasis" or relative stability achieved in the last two days threatens to collapse, and with it, the decline of the national currency may intensify, devalued and turned into worthless paper in the pockets of Cuban families.
The volatility of the informal currency market and the passivity of a government unable to bring order to economic and monetary policy keep Cubans on edge.
Although discreet, the increase of two pesos in the price of the dollar and the decrease of the European currency portend a new streak of fluctuations in the exchange rate of currencies.
Among the "new players in the economy," recipients of remittances and operators of the black market, there are many who foresee new increases in the price of the currencies, considering the absence of "corrections" and economic and monetary policies aimed at the stability of the peso against the currencies.
Exchange rate today 24/06/2024 - 7:12am in Cuba:
- Dollar exchange rateUSD to CUPaccording totheTOUCHI'm sorry, but there is no text provided for translation.362 CUP
- Euro exchange rateEUR to CUPaccording toelTOQUETranslate the following text to English:370 CUP
- Exchange rate ofMLC to CUPaccording toelTOQUETranslate the following text to English:305 CUP
These values provide a quick reference for the conversion of US dollars and euros to Cuban pesos, according to the current informal exchange rate.
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