Strong increase for the dollar and the euro in informal sales in Cuba

Strong increase for the dollar and the euro in informal sales in Cuba

HAVANA, Apr 3 The dollar and the euro woke up this Wednesday with new price increases in informal sales in Cuba, which means that the outlook is increasingly darker for the national currencyand that the purchasing power of workers on the island is sinking to unprecedented levels.

In the last few hours, the US currency rose to 340 CUP, marking an increase of two pesos compared to the previous day.

The euro, for its part, rises to 345 pesos, five pesos above the US dollar and with an increase of three pesos compared to Tuesday, as revealed by the daily rate of the independent media elToque, which records price fluctuations. informal exchange of currencies in the country.

The Freely Convertible Currency (MLC) remains unchanged, at 280 CUP, the same value it reached on April 2 and very far from euros and dollars.

It is worth noting that in just 48 hours both the European and the US currencies accumulated increases of five pesos each.

Median of purchase and sale vouchers of the reference currencies

Regarding the behavior of the median value, in the last 24 hours elToque announced purchase offers for the euro at 343 CUP and sale offers at 345.

The dollar is being bought on average at 338 and sold at 340.

In the case of the MLC, the median is 280 pesos for both purchases and sales.

As a curious fact, the Mexican peso appears in the rate published today, whose average sale is 18 CUP, according to the source above.

Strong increase for the dollar and the euro in informal sales in Cuba

In the case of the minimum and maximum values ​​registered in the last hours, the minimum of the euro falls and stands at 275 while the maximum rises to 350 CUP.

In the case of the dollar the oscillation is between 280 and 355.

In a year, the Cuban peso has experienced a historic devaluation, which has dramatically eroded the purchasing power of the Cuban population and has radically affected both salaries and savings.

The exchange rate instability in Cuba highlights the acute economic crisis that the country is going through, accentuated by the lack of effective policies that mitigate the fall of the national currency. They are obvious symptoms of the profound flaws of the centralized and planned economic model imposed by the Cuban regime.

The lack of effective measures to stabilize the economy and improve the standard of living of citizens reflects not only an economic crisis, but also a crisis of leadership, where ideological dogmas are prioritized over the well-being and prosperity of the Cuban people.

The reference rate of elToque is prepared after analyzing the purchase and sale advertisements of the three reference currencies published on social networks and classified websites. From this result, a price is established that is used to know the values of the main currencies that circulate in the country.

However, it must be taken into account that the representative rate is formed from purchase or sale announcements, that is, they are not concrete operations, but rather they express the desire of the actors who participate in that market. Hence, the figures shared should be taken as a reference only.