Selling prices of dollars and euros rise in Cuba’s informal market

This Saturday new record figures for sales of dollars and euros in Cuba’s informal market were revealed, according to the daily rate of independent media the touchWhich records unofficial price fluctuations of currencies on the island.

Two consecutive days of appreciation in both currencies means chain In just 48 hours the dollar rose by four pesos and the euro rose by five pesos.

This January 27, the average sale of US currency increased to 284 cups of pesosTwo pesos more than the price reached on Friday.

The euro also rises, reaching an average of 290 pesos in informal sales today, With an increase of three pesos in relation to the previous day’s value.

This is the first time that both currencies have been sold at these prices since 2019 the touch Began reporting on currency price movements at street-level buying and selling.

On the other hand, the freely convertible currency (MLC) remains unchanged and is sold at 250 CUP.

The mean of prices registered over the last 24 hours reflects a buying offer with an increase in terms of dollars and euros.

US currency registers buy offer at 282 CUP of 285 in sales, which could be a sign that it will continue to rise.

On the other hand, the euro has an average of 288 pesos when buying and 290 pesos when selling.

In case of MLC, the average is 250 for buying and 251 for selling.

Average buying and selling prices of the three reference currencies in Cuba’s informal market (elToque)

The strong rise in the dollar and euro in the informal market comes amid a recent announcement by Cuban state corporation CIMEX. of S.A. Launch of Classic Card, a rechargeable card in dollars for citizens and foreigners; also launched Another prepaid card in USD from Banco de Credito y Comercio (BANDEC).

The path of the dollar, euro and MLC was uncertain after the Cuban government announced a crusade against the unofficial selling and buying of these currencies. However, now they have not only recovered their values ​​before the decline in late December, but have also started rising to prices they had never reached.

The temporary decline affecting the three reference currencies began on December 22, just two days after Cuba’s Prime Minister. Manuel Marrero Cruz, will announce it The official dollar rate will be changed in Cuba starting this January,

At the time Marrero Cruz did not specify what the new price would be nor the exact date when it would come into effect. As of January 24, Cuban authorities have not made any official announcement on this issue.

A few days after Manuel Marrero’s public intervention before the National Assembly, he was Minister of Economy in Cuba, alejandro gilwho gave this assurance They would intervene in the informal currency market, which they described as “distortion.”

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.

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

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