The dollar broke a new record in Cuba’s informal market




January 20th, 2024 at 3:38 pm M.

The US dollar set a new historical record in Cuba this SaturdayTrading at 278 pesos (CUP) on the informal exchange market, indicating its rapid depreciation following the 2021 monetary reform.

(See: What are ETFs, what are they for and how to trade Bitcoin with them).

According to the index prepared by, this new maximum price recorded is higher than the price five days ago when it reached 275 cups. Independent media El Torque, which has become a reference for the informal market.

He Euro also saw a rise and reached 283. According to that medium.

The rise in both foreign currencies came after the Cuban government announced a major macroeconomic adjustment program in mid-December.

(See: The pros and cons of a dollar collapse in Colombia in 2023).



The measures announced include a 500% increase in the price of gasoline and diesel.
There is the implementation of a new official exchange rate, which from 2021 is 24 CUP per dollar for companies (1,045% lower than the unofficial rate) and 120 CUP for individuals (129% lower than the black market).

(See: What’s behind gold’s new peak prices).



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