A new update of unofficial exchange rates in Cuba shows that the Cuban peso continues to devalue against the strongest international currencies such as the US dollar or the European Community euro.
Independent media El Torque published the values of the main currencies traded on the island’s black market for today, January 30. The results show that foreign currencies have increased their prices significantly.
According to this report, the Euro (EUR) is trading at 290 Cuban pesos, which is approaching 300. This is a new historical record of buying and selling in the informal exchange market.
For its part, the US dollar (USD) has also recorded a notable increase and is currently exchanged in the black market at 287 Cuban pesos, increasing compared to previous days.
Similarly, the Freely Convertible Currency (MLC) remains stable and strong, and today it was sold for 253 Cuban pesos in Cuba. Besides, there has been a slight increase in buying and selling in the informal market.
Price of dollar, euro and MLC in the informal market in Cuba
Last December, the informal money market saw a slight decline in sales. This coincided with the Cuban government’s announcement that it would soon revise the official exchange rate.
The measure aims to unify formal and informal markets. But this measure has not been implemented yet, although the date has already been revealed.
A new official exchange rate of the United States dollar (USD) for the year 2024 is in the process of being defined by the Cuban government, as announced by Minister of Economy and Planning Alejandro Gil Fernández.
The measure is part of a set of actions to boost the economy and adjust anomalies in the exchange market.
The minister said that there is hope for february Regulations are updated to facilitate the organization of local development projects and initiatives are introduced to reorganize the exchange market, intervene in the informal market, and regulate the exchange rate in Cuba.
(TagstoTranslate) Growth of the dollar in Cuba(T) Change of dollar in Cuba(T) Price of the dollar in Cuba(T) Euro(T) Unofficial currency market(T) Black market in Cuba(T) Price of the euro in Cuba