The dollar and euro are becoming more expensive

This Monday, the dollar and euro rose for the second day in a row in the Cuban informal market, marking the path to a gradual recovery of value to December 22the date on which the three base currencies began to decline in value at street level.

On January 8, the dollar sells for an average of 270 CUP, two pesos more expensive. in relation to the previous day, but three less than the previous day The record of 273 pesos was set on December 19.

The euro today also increased in price by two pesos and amounted to 274 CUP.Although still a long way from the 280 pesos at which it was sold

the price at which it arrived on December 15th.

The freely convertible currency (MLC), in turn, will remain at 245 CUP this Monday.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 offers to buy for euros up to 272 pesos and offers to sell for 275.which may indicate that the European currency may continue to rise in value in the near future.

In the case of the dollar, the median is 267 CUP when buying and 270 when selling.

MLC, for its part, has the same price in both operations: 245 CUP.

The fall of the three base currencies began on December 22, two days after the speech of the Prime Minister of Cuba. Manuel Marrero Cruz

would announce that Starting in January, 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.

Marrero did not miss the opportunity – during his speech to the National Assembly of People’s Power (ANPP) – to criticize the independent media recording movements in currency exchanges on the island’s informal foreign exchange market.

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 foreign exchange market is one of the major distortions facing the economy, and this is not intentional. We did not design the foreign exchange market that operates in the country, but the important part of foreign currency that is made by non-state purchasers. it’s the same in this market,” Gil said on the TV program. Round table

.

The Cuban regime has been trying to blame touch promoting a high exchange rate, which the government believes will harm the Cuban economy and trigger 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.