The informal currency market in Cuba has remained largely unchanged since Friday, except for the freely convertible currency (MLC), which has once again been quoted at 270 Cuban pesos.
The exchange rate for December 10, according to the independent media outlet elTOQUE, is 328 CUP for the US dollar.
On its part, the euro is trading at 340 CUP and the MLC at 270 CUP.
Since last November, the currency exchange market in Cuba has seen few changes, as the Observatory of Currencies and Finance of Cuba (OMFi) had already predicted.
According to the latest report from the OMFi, the worsening economic crisis in the country has caused a "paralyzing effect" on the buying and selling of currencies in the black market.
"The intensification of the economic crisis in 2024 has had a paralyzing effect on the informal currency market. The decrease in tourist numbers, imports, and, generally, the decline in economic activity across all sectors has led to a contraction in both the supply and demand for foreign currency," stated Cuban economist Pavel Vidal, who is based in Colombia.
The specialist also predicted that the current stagnation of the informal market will continue in the short term.
Exchange rate today 10/12/2024 - 12:31 PM in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 328 CUP.
Exchange rate of the euro (EUR) to CUP according to el TOQUE: 340 CUP.
Exchange rate of MLC to CUP according to TOQUE: 270 CUP.
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