Friday, September 29, 2023

The dollar is one step away from reaching its record price in the Cuban informal market

He dollar has taken a new step in its recovery in the Cuban informal market in the last 24 hours Increase of 0.77 cents and put yourself in that place 248.77 CUP just 1.23 pesos away from the 250 CUP set as a record in mid-August.

He Euro and the freely convertible currency (MLC), for its part, remain stable at 250 and 215 pesos, respectively, on September 18.

The Cuban peso in cash also remains at the same value as the previous day and is 1.04 bank pesos, according to the exchange rate compiled by independent media.

Will benchmark currencies on the Cuban informal market reach their August record levels before the end of the month?

After almost two weeks in which the devaluation of the Cuban peso in the informal market, At the beginning of September, the dollar, the euro and the MLC began a recovery process that continues to consolidate.

The price of benchmark currencies on the Cuban black market rose throughout July and much of August. However, at the end of August, the three currencies began to fall, demonstrating the instability of Cuba’s informal currency buying and selling market.

On the 16th of last month, the US currency Reached 250 CUP and stayed stable at this value until August 23, when it began to fall to 215 pesos.

The Observatory of Currency and Finance of Cuba (OMFi), in its bulletin “Signals of the Cuban foreign exchange market,” assumed that the brake on the devaluation of the Cuban peso would lose momentum, which has happened.

The reference interest rate of elTOQUE It is created after analyzing the buy and sell advertisements published on social networks and classified sites. With this result, a price is determined that serves to know the values ​​of the main currencies circulating in the country.

Nation World News Desk
Nation World News Desk
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