The US dollar, which in previous months had shown constant volatility in the Cuban informal market, has surprised by remaining stable over an extended period.
This Thursday, the USD is being traded in the informal market at 320 CUP. The European currency has not changed in price either and is being sold for 330 CUP. The freely convertible currency (MLC) is also remaining stable in the irregular market at 275 CUP.
Exchange rate today 15/08/2024 - 6:25 am in Cuba:
Exchange rate of the Dollar USD to CUP according to elTOQUE: 320 CUP
Exchange rate of the Euro EUR to CUP according to elTOQUE: 330 CUP
Exchange rate of MLC to CUP according to TOQUE: 275 CUP
Dollar bills (USD) to CUP:
- 1 USD: 320 CUP
- 5 USD: 1,600 CUP
- 10 USD: 3,200 CUP
- 20 USD: 6,400 CUP
- 50 USD: 16,000 CUP
- 100 USD: 32,000 CUP
Euro (EUR) bills to CUP:
- 5 EUR: 1,650 CUP
- 10 EUR: 3,300 CUP
- 20 EUR: 6,600 CUP
- 50 EUR: 16,500 CUP
- 100 EUR: 33,000 CUP
What is the reason for this stability and what could the future hold?
In an economic environment marked by uncertainty in Cuba, the US dollar has historically been one of the most unstable currencies in the Cuban informal market.
However, in recent weeks, it has surprised many by maintaining a relatively stable price, without the abrupt fluctuations that characterized previous months.
This stability has generated multiple speculations among economists and the general public, who wonder what the reasons behind this unusual behavior of the dollar are.
Some experts indicate that this could be a temporary pause due to a decrease in demand, while others suggest that the economic measures recently implemented by the Cuban government may be beginning to show effects in the currency market.
"We are seeing a kind of calm before the storm," comments a local economist who preferred not to be identified. "The Cuban informal market has always been volatile, and this stability could be temporary, depending on how the country's economic situation evolves in the coming months."
Despite the apparent calm, many Cubans remain concerned about the future. The dollar has been a refuge for those seeking to protect their savings from the devaluation of the Cuban peso, and any sudden change in its value could have significant implications for family economics.
What does this stability mean for the average citizen? Is it a sign that things are improving or simply a pause before the turbulence returns? These are questions that many are asking as they cautiously observe the market.
Stay informed and closely monitor the behavior of the dollar in Cuba, as any change in its value could directly impact the economy.
What do you think?
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