The movements recorded this Monday in the exchange rates of currencies in the Cuban informal market seem to have triggered a new wave of instability in the price of the US and European currencies.
If the day before the US dollar (USD) experienced a discreet increase of two Cuban pesos (CUP), this Tuesday the jump is three units, leaving its quotation at 365 CUP.
In less than 24 hours, the price of the euro dropped five Cuban pesos and then recovered, stabilizing at 375 CUP.
On the other hand, the freely convertible currency (MLC) also experienced slight fluctuations in the last few hours, trading at 300 CUP this Tuesday.
The informal market representative rate calculated by elTOQUE shows reference values and is calculated based on the median of the numbers written in currency exchange buying and selling ads in social media groups and classified ad sites.
The "miraculous stasis" or relative stability achieved in recent days threatens to crumble, and with it, the decline of the national currency intensifies, devalued and rendered worthless 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.
Among the "new actors in the economy," recipients of remittances and operators of the black market, many envision new increases in the price of currencies, considering the absence of "corrections" and economic and monetary policies aimed at curbing the devaluation of the national currency and achieving stability of the peso against foreign currencies.
Today's exchange rate 25/06/2024 - 6:42am in Cuba:
- Exchange rate of the dollarUSD to CUPaccording toelTOQUETranslate the following text to English:365 CUP
- Euro exchange rateEUR to CUPaccording toelTOQUEI'm sorry, but you haven't provided any text to be translated into English.375 CUP
- Exchange rate ofMLC to CUPaccording totheTOQUETranslate the following text to English:300 CUP
These values provide a quick reference for converting US dollars and euros to Cuban pesos, according to the current unofficial exchange rate.
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