This Sunday, the dollar has experienced a moderate decrease in its value in the Cuban informal market.
The US currency drops by ten pesos and stands at 320 CUP.
The euro also drops by ten units, falling to 335 CUP after having remained at 345 for several days.
MLC, for its part, at 1:25 p.m. (local time) on July 14, was valued at 285 pesos, five units less compared to last Friday.
Exchange rate today 14/07/2024 - 1:25pm in Cuba:
Exchange rate of the US dollar USD to CUP according to elTOQUE: 320 CUP
Euro exchange rate EUR to CUP according to elTOQUE: 335 CUP
Exchange rate of MLC to CUP according to elTOQUE: 285 CUP
The informal exchange rate of Cuba offered here is not officially recognized or endorsed by any financial or governmental entity.
These moderate reactions are observed days after the government decided to cap the price of six basic products, which in the opinion of private business owners and economists will increase food shortages on the island.
However, the regime presented the resolution as an effort to mitigate the impact of inflation on consumers, for which it also eliminated the payment of customs tax on the importation of those products by the private sector.
Resolution 225/2024 of the Ministry of Finance and Prices establishes that the capped products are as follows: chopped chicken (680 pesos per kg); edible oils except olive oil (990 pesos per liter); powdered milk (1,675 pesos per kg); pasta (835 pesos per kg); sausages (1,045 pesos per kg); and powdered detergent (630 pesos per kg).
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