Thursday, November 30, 2023

The euro reaches 270 pesos in the Cuban informal market

The euro reached 270 CUP in the Cuban informal market, a figure that represents a new record for the European currency in street-level trading on the island.

For its part, the average selling price is in dollars remained at a maximum of 260 CUP for a week, according to independent media elToque at the rate that informs every day about the price of currencies at the street level.

It’s about a record price which did not reach the US currency since the aforementioned independent press outlet documented the representative value of the three reference currencies in the informal market.

The freely convertible currency (MLC) also remained stable at 240 pesos in informal sales transactions.

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The euro has regained its distance in relation to the dollar after the beginning of the month only 5 pesos away from the US currency.

Cubans closely follow the evolution of the three reference currencies in the informal market as a “lifesaver” available to those who have access to it.

relieved of inflation, the unstoppable economic crisis and lack of food, The informal market governs many aspects of the lives of the citizens living on the island.

From the movements of reference currencies at the street level that the rising prices of Cuban products, mainly basic needs, are established.

The price of reference currencies on the Cuban black market rose in July and most of August. However, at the end of August the three currencies began to fall, but only for a few days. At the beginning of September, dollars, euros and MLC They began a rapid recovery process, which they are still continuing.

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The reference rate of elToque It is prepared after analyzing all the buy and sell ads 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.

Nation World News Desk
Nation World News Desk
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