Thursday, February 29, 2024

The price of the US currency rose in the Cuban informal market

The dollar This Thursday dawned with a new record sales figure in the informal market in Cuba, which constitutes a new chapter in the resounding fall of the Cuban peso, which becomes more devalued every day.

Average sales in dollars increased by two pesos and reached 297 pesos per unit, as revealed by the daily rate of independent media outlet ElToque, which records the oscillations in the informal price of the country’s currencies.

This is the highest value reached by the US currency in Cuba since 2019. elToque began documenting the ups and downs of three reference currencies in informal trading.

The euro and the freely convertible currency (MLC), for their part, remain unchanged: 300 pesos for the European currency and 260 in the case of the MLC. The average sales of MLC also increased, reaching 260 CUP.

The median of the amounts registered in the last 24 hours mark offers for the euro of 300 CUP both in the acquisition and in the sale of currency.

The dollar, for its part, registered an average of 295 pesos when buying and 298 when selling, which could be an indication that it will continue to rise.

In the case of MLC, the median was 258 when it was acquired and 260 when it was sold.

In addition to median values, elToque It usually publishes the minimum and maximum values ​​reached by reference currencies in the informal market.

In the case of the euro, in the last few hours, it was proposed at 310 CUP per unit, while the dollar was proposed at 308 pesos. The number drops to 280 in the case of MLC.

The new record sales figures in the informal euro and MLC markets took place amid a critical economic context, marked by the dismissal of Alejandro Gil as minister of economy.

Earlier, the government also announced a delay in the increase in fuel prices after the alleged cyberattack on the CIMEX marketing system. These decisions are preceded, in turn, by the announcement that the government is preparing to intervene in the informal foreign exchange market in February.

Despite a temporary reduction in its purchase and sale values ​​at the end of December 2023, In a period of just a few days, the three currencies not only recovered their previous values but also continued a continuous increase in record prices. a matter of great concern for those who do not have access to these currencies on the island.

The reference rate of the aforementioned independent media was prepared after analyzing the purchase and sale of advertisements in three reference currencies published on social networks and classified websites. From this result, a price is established that is used to determine the values ​​of the main currencies circulating in the country.

However, elToque clarified that its representative rate is formed from purchase or sale announcements, that is, they are not concrete operations but rather express the desire of the actors who participated in that market. So they insist that the numbers shared will only be a “reference.”

World Nation News Desk
World Nation News Desk
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