Currency prices continue to rise in the Cuban informal market

This Tuesday for the third day in a row at least two of the three base currencies are rising prices in the Cuban informal market, which appears to perpetuate the process of restoring pre-existing values December 22the date when the three base currencies began to decline.

The euro rises by one peso compared to the previous day and reaches 275 CUP. It is located at five pesos. of the 280 in which it was soldthe price at which it arrived on December 15th.

And this is January 9th too freely convertible currency (MLC) increases, which means an increase of one peso and sells for an average of 246.for only three pesos 250, which is its maximum value to date..

Of the three, Only the dollar remains at the same value as yesterday and is sold at an average of 270 CUP. as independent media reported today touch The daily rate is reported using the island’s exchange rate.

The median value of purchases and sales recorded in the last 24 hours is P275.00.

In the case of the dollar, the median is 268 CUP when buying and 270 when selling.

MLC, for its part, is recording offers to purchase at CUP 245 and PHP 248 for sale, suggesting that the price will continue to rise.

Median buying and selling costs of three reference currencies on the unofficial market of Cuba (elToque)

Will the dollar, euro and MLC return to their previous values? That’s the question many are asking now, as the Cuban government vows to launch a crusade against the informal buying and selling of the three currencies.

The decline of the three base currencies began on December 22, just two days after the Cuban Prime Minister spoke. Manuel Marrero Cruz, would announce that Starting in January of this year, the official dollar exchange rate in Cuba will be changed.although he did not specify what the new value would be or the exact date it would take effect.

A few days later he became Cuba’s Minister of Economy. Alejandro Gilwho assured that They would intervene in the informal foreign exchange market, which they called “distortion.”

The Cuban regime has been trying to blame touch encouraging a high exchange rate, which the government believes is harming the Cuban economy and causing inflation on the island.

Base rate touch It is compiled after analyzing purchase and sale advertisements published on social networks and classifieds websites. Based on this result, a price is established that is used to determine the value of the major currencies circulating in the country.

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