Dollar, Euro and MLC post strong rise in informal sales after new fuel prices

The dollar, the euro and the freely convertible currency (MLC), the three reference currencies in Cuba’s informal currency market, Woke up to new record sales figures this FridayWhich confirms the magnitude of the economic disaster and the unbridgeable abyss into which the Cuban peso continues to sink.

The increase in value of all three coins occurs exactly one hour after the announcement of the entry New fuel prices will be applicable from March 1Which will be sold in dollars, and new electricity rates will also be fixed for higher consumers.

the immediate reaction was The most notable increase in the American currency occurred this Friday and it rose to 314 cups, Four pesos more than the previous day.

He The euro, for its part, reaches the limit of 320 cups After an increase of two pesos in relation to its value on Thursday.

There is also an increase of two pesos The average sales of MLC, which reaches 268 cupsAs revealed by Independent Media’s Daily Rate the touchWhich documents the unofficial price fluctuations of currencies in a country.

Average score of values ​​recorded in the last 24 hours Buy offers for the US currency were at 310 pesos for buying and 315 pesos for selling, which could signal a new price rise.

In case of MLC, the average price while buying is 265 and while selling is 270.

The average euro is 318 when buying and 320 when selling.

The Cuban government confirmed this week fuel prices Which was announced in addition to the list in January service centers that will provide that service in dollars,

Regarding the new prices, the Minister of Finance and Prices expressed that they reflect “Recognition of all costs and expenses arising from their acquisition, processing and marketing.”

The implementation of the controversial measures was postponed from 1 February Due to an alleged cyber attack,

A few days later, the Cuban government appeared to back down, saying it would not implement the economic readjustment package. Unless the situation in the country wasThat’s according to what Cuban Prime Minister Manuel Marrero Cruz said at a meeting of the Council of State.

However, in less than ten days they apparently managed to create conditions and some economic measures have certainly been implemented that are going to sink the Cuban peso even more.

Analysis of currency fluctuations in the informal market Published by the touch A few weeks ago, the announcement of a price hike for fuel was indicated Without specific government projections, a context of high uncertainty and economic instability “has given rise to conditions whereby demand for foreign exchange remains constrained and supply remains restricted.”

reference rate of the touch It has been prepared after analyzing advertisements for the purchase and sale of the three reference currencies published on social networks and classified websites. From this result, a value is established that is used to know the values ​​of the major currencies circulating in the country.