Sunday, October 1, 2023

Currencies are once again surging in Cuba’s informal market

For the third day in a row European and US currencies hit on Monday jump five pesos in your quote in the informal market in Cuba.

After reaching the middle of August the record of 250 Cuban pesos (CUP) per US dollar (USD) and remained unchanged for a week, the dollar had two weeks of confusing falls (it reached 215 CUP), which brought some respite to the devalued national currency and with it, to the citizens.

However, on Tuesday, September 5, the balance once again tilted in favor of the US currency, which was marked. a remarkable increase of two points put its price at 217 CUP.

Three more pesos the next day, five the next, and since then the “enemy money” has experienced a rapid return that threatens to regain the record from mid-August in half the time of its fall. The euro, for its part, suffered the same evolution during this period.

Today Monday the dollar “is” at 240 CUP and the euro at 245 shaking Cuban pesos.

MLC also participated in five-by-five jumps and was quoted in the Cuban informal market at 210 CUP, raising the alarm of an “unstable market” in independent media. elTOQUE which prepares its reference rate after analyzing all buy and sell advertisements published on social networks and classified websites.

The banked peso remains 15 cents above the cash peso.

Thus, the informal money market in Cuba continues to report an economic and political reality of crisis, where the “new actors” ensure that there is chicken for those who can pay it, while the chaos takes the a “continuity” that tries to prevent the damage caused by its exchange with Russia.

Nation World News Desk
Nation World News Desk
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