Currencies awaken in Cuba: The price of the dollar and the euro rises in the informal market.

Dollars and euros rise in price simultaneously for the first time in over two months.

Current Affairs
CiberCuba Editorial Office

03/10/2024 - 7:52am (GMT-5) |

For the first time in more than two months, the dollar and the euro opened this Thursday with notable price increases in the Cuban informal market.

The value of the Freely Convertible Currency (MLC), on the other hand, decreased.

The US dollar has risen from 320 to 322 CUP, a price it had temporarily reached in recent days, but which only lasted a few hours.

In the case of the euro, it rises one peso today and is currently at 336 CUP.

The MLC, the virtual currency used by the Cuban government, has decreased by two pesos and is now valued at 268 CUP.

One has to go back to July 29 to find the most recent day when the US dollar and the euro last rose simultaneously in the Cuban informal market.

This increase in the value of the euro and the dollar occurs shortly after elTOQUE reported, in an article published this Tuesday by the digital outlet, that in some stores with freely convertible currency on the island, the purchase of products with cash in foreign currency is being allowed.

The source revealed that employees of the Cadena de Tiendas Caribe and Corporación Cimex S. A. reported that some commercial establishments already accept payments in dollars and euros, while others are preparing to start accepting cash in foreign currency.