Economic crisis in Cuba: This is how the dollar, euro, and MLC are quoted in the black market.

The price of the dollar has decreased again in the informal market in Cuba. Here are the updated figures.

Current affairs
CiberCuba Editorial Team

04/10/2024 - 7:41am (GMT-5) |

The black market for currency exchange in Cuba continues to fluctuate. This Friday, the value of the US dollar is once again quoted at 320 CUP, a value it had maintained for several weeks and which was altered on Thursday with an increase of 2 pesos.

The euro also fell by one peso compared to the previous day. It reaches 335 CUP today, while the Convertible Currency (MLC) is quoted at 270 CUP.

The instability in the Cuban foreign exchange market reflects the volatility of the economy, where factors such as a shortage of foreign currency and financial uncertainty drive constant fluctuations in exchange rates.

The value of the dollar, euro, and MLC frequently fluctuates, affecting both consumers and merchants on the island. This instability alters the daily financial landscape for Cubans, forcing them to adapt to new buying and selling conditions.

Abrupt changes in exchange rates affect access to imported goods, basic products, and services, exacerbating economic difficulties in a context of prolonged crisis and lack of structural solutions.