AREQUIPA, Peru – The value of the dollar increased this Thursday in Cuba’s informal market. As the euro also increased, both currencies once again reached a record figure in the context of the economic crisis that the Island is going through.
In the last few hours, the US currency rose to 367 Cuban pesos (CUP), experiencing a rise of two pesos compared to this Wednesday.
For its part, the euro rises to 375 pesos, eight pesos above the US dollar. The increase has been five pesos in relation to the day before, which led to an alert of instability from the independent media elToque.
According to the daily rate of the aforementioned site, which records the behavior of the informal price of currencies in the country, the average sale of the Freely Convertible Currency (MLC) remains at 290 CUP.
The index prepared by the media takes as a reference nearly 2,000 daily currency purchase and sale advertisements on various Cuban websites to establish the exchange rate, thus providing an approximation to the behavior of the informal currency market on the Island.
ElToque He reiterated last Tuesday in a note that the increase in the value of reference currencies in the informal market is simply the result of the balance between supply and demand.
Likewise, he pointed out that another factor that affects the current panorama is that Cuban pesos are not required for some daily life operations, including the purchase of gasoline or products in stores that operate in freely convertible currency (MLC).
“The only viable alternative is for the Cuban peso to be the only currency used in domestic transactions and for there to be a transparent legal market,” the analysis highlights.
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2024-04-28 09:03:52
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