MLC rebounds amid volatile currency prices in Cuba’s informal market

This Friday the value of the freely convertible currency (MLC) increased by three pesos in Cuba’s informal market and That’s 243 cups.

The virtual currency with which the Cuban government operates in its stores is capable of this purpose experiences a relapse after Continued decline on December 31 (to 242 cups) And on January 1 (at 240).

The increase in the average price of MLC is interpolated A general decline in value that the three reference currencies have experienced in the informal market since last December 22.

This January 5, the dollar and the euro will remain at their values ​​of recent days: At 265 for the American currency and at 270 for the European currency.According to independent media the touch In the daily rate reported by the currency exchange rate on the island.

It estimates the average of buy and sell prices registered over the last 24 hours. The value of the dollar may also increase soon, which would appear with an average buy offer at 265 CUP and sell offer at 267 pesos.

The decline in the three reference currencies began on December 22, two days after Cuban Prime Minister manuel marrero cruz will announce it The official dollar rate will be changed in Cuba from JanuaryHowever, it did not specify what the new price would be nor the exact date when it would come into effect.

Marrero, during his speech before the National Assembly of People’s Power (ANPP), did not miss the opportunity to criticize independent media that record movements in currency exchange in the informal currency market on the island.

“We must eliminate the fact that a foreign country and a computer are predicting the exchange rate that will govern the country. Furthermore, this exchange rate is speculative and taken as a reference to determine all prices The misuse that is happening today goes to the national level,” the senior leader stressed.

A few days later, he was the economy minister in Cuba, alejandro gilwho gave this assurance They would intervene in the informal currency market, which they described as “distortion.”

“The exchange market is one of the main distortions that the economy is facing and it is not by design. We have not designed the exchange market that is going on in the country, but there is a significant part of the foreign exchange that is going on in the non- -State acquirers do it in that market,” Gill said in a television program round table,

In his speech, Gill did not provide details of how the regime planned to fix the economy and limited himself to identifying “distortions” and ensuring that they were addressed in a “very well thought-out manner.” will be solved with “understood strategies”.

For several months the Cuban regime has been trying to shift blame the touch Promoting a higher exchange rate would – in the government’s opinion – harm Cuba’s economy and increase inflation on the island.

reference rate of the touch It is prepared after analyzing purchase and sale advertisements 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.