Cuba’s largest bank, Banco Popular de Ahoro, BPA, published a brief note this Friday morning referring to the exchange rates of the dollar and other currencies in Cuba, which has been the subject of various interpretations by the population, causing some concern. have arisen. some.
Banco Popular de Ahoro has designated the information as “very essential”. Apart from the fact that it is published at a time when the US Dollar is closer to the $200.00 Cuban Peso. Due to the high and irreversible demand from those who expect to exit the country and need foreign currencies, a price.
about 200 pesos per dollar
Securities in the informal market are on track to double the rate set by the Central Bank of Cuba in a matter of days, reestablishing the state’s foreign exchange market. Some dollars that are sold today at banks and exchange houses (CADECA) are valued at $123.60 CUP (and $110.40 CUP in selling activity). While on country roads, sales operations set an exchange rate that is increasingly closer to $200.00 CUP.
While the government banking system maintains a fixed rate in dollar terms, it adjusts the exchange rates of other currencies such as the euro, the Canadian dollar (CAD) or the British pound according to market dynamics every day. However, the note published this Friday announced that the current exchange rates will remain the same until further notice.
“Very important. Informational note from Banco Popular de Ahoro. We inform all our customers that the exchange rates for currencies published on Tuesday, September 27, 2022 will remain in effect until further notice, ”said the above bank on various social networks Shows the message shared by the official profile.
A new exchange rate?
Among Cubans’ skeptics at the moment is the fact that the popular savings bank may be setting a new adjusted exchange rate. Or that it changes its unfortunate forex policy. Anything could be expected.
Today the sale of USD in banks and CADECAS is used to feed some of the informal forex market. At the same time, an installation of about five times higher than the one originally installed, $24.00 CUP per dollar, has contributed to further raising the values of the so-called black market,
Little is known at this time, only that exchange rates remain in force until further notice, and that the BPA has classified this information as “very important”. Cuba directory Will follow up on this topic of special interest.