The euro rises without a break in Cuba

The euro continues to rise without a break in Cuba and the average selling price of the European currency on the informal market has increased for the second consecutive day, as published on March 26. the touch In the rate that is reported daily on the exchange rate at street level.

The European currency climbed to 338 pesos per unitPutting itself just two pesos away from the 340 cup limit.

The figure represents a new absolute record for the euro since 2019. the touch The representative value of the three reference currencies began to be documented in the island’s informal market and is full evidence of the strong devaluation of the Cuban peso.

The dollar and the freely convertible currency (MLC), for their part, maintained their values ​​from the previous day: the US currency at 330 and the MLC at 275 CUP.

Regarding the behavior of the mean values ​​in the last 24 hours the touch The average buying and selling prices of the three reference currencies mark stability: 338 CUP for the euro, 330 for the dollar and 275 for the freely convertible currency.

Less stability is observed in the fluctuations of the recorded minimum and maximum values, as the euro will register a maximum of 350 CUP and the dollar 345.As revealed from the above source.

At the beginning of the month, economist Pavel Vidal warned in the monthly report of the Cuban Monetary and Finance Observatory (OMFI) that Forecast models projected that the value of the USD and EUR in the informal market could exceed the 340 peso mark for the remainder of March.

This forecast is not far from becoming reality, at least for the European currency, which is only two pesos away from that figure.

The continued increase in the unofficial price of currencies is a clear indicator of Cuba’s dire economic situation, where the regime continues to devalue the national currency and without offering viable solutions to stop the crisis.

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.

However, it should be taken into account Representative rates are formed from buy or sell announcements, that is, they are not concrete operations, but rather they express the will of the actors participating in that market. Therefore the data shared should be taken as reference only.