Currencies on the decline in Cuba: The dollar and the euro fall.

Foreign currencies continue to trend downward, but at a moderate pace.

Current affairs
CiberCuba Editing

17/07/2024 - 7:21am (GMT-5) |

Cargando — Dollar and euro bills (Reference image)Photo © Shutterstock

Billetes de dólares y euros (Imagen de referencia) © Shutterstock — Dollar and euro bills (Reference image)Photo © Shutterstock

The price of currencies in the informal Cuban market continues to show a downward trend, confirmed this Wednesday with a new drop in the dollar and the euro.

At 7:00 a.m. (local time) on July 17th, the dollar is pegged at 310 CUP. The figure represents a decrease of four pesos compared to the previous day.

Even stronger is the decline of the euro, which in the last 24 hours dropped from 330 to 320 CUP.

Only the Freely Convertible Currency (MLC) remains unchanged this Wednesday, with an average selling price in the informal market of 280 CUP.

Since July 8th, the Cuban government imposed a price cap on six basic high-demand products through a resolution published in the Official Gazette, foreign currencies have maintained a downward trend in the informal market, although moderate.

In the last nine days, the dollar has dropped from 340 to 310 CUP, while the euro has fallen from 350 to 320 CUP. Both the US and European currencies have experienced a 30-peso drop in nine days.

The fall of the Freely Convertible Currency has been of 15 pesos, from 295 to 280 CUP.

For months, the Cuban government has not made any statements regarding the fluctuations in the prices of currencies in the informal market, besides occasional attacks against the independent media outlet "elToque" for reporting on the movements of the three reference currencies in street-level buying and selling.