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This is how the price of the dollar is falling in Cuba

The price of the US dollar (USD) has continued its downward trend in the Cuban informal market. This is a sustained movement in recent weeks, in which its price has decreased several units.

This is reflected on Tuesday by the independent media El Toque, which daily offers an estimate based on the analysis of the median. This after reviewing currency buying and selling sites on internet pages and social networks.

According to the representative rate calculated by said media, the dollar is quoted at $163 pesos (CUP) in the Cuban informal market. Thus, it drops two points compared to the previous days, when it was at $165 pesos.

Regarding the official rate in the Exchange Houses (CADECA) it continues at a rate of 1 x 123.60 CUP, as it has been almost always since the beginning of the sale of foreign currency by the Cuban government.

The Freely Convertible Currency (MLC) is the least appreciated in the informal market. Therefore, this Tuesday its price fluctuates around $159.50 CUP.

For its part, the euro also fell, this time to $166.50 Cuban pesos, one point and a half less than the previous day. The currency of the old continent continues to be the best valued currency in the informal exchange market.

Exchange rate, parole for Cubans and sending remittances with Western Union

The slight but continuous fall in the price of currencies in the informal market does not seem to be related to the state of the Cuban economy. This continues with a marked crisis, and nothing seems to envision an improvement in the short term.

However, the important change in the immigration policy of the United States towards Cuba, with the closure of borders and the so-called parole, seems to be influencing the exchange rate.

The same reason explains that the exorbitant tickets to Nicaragua have considerably reduced their cost.

Added to this is the recent announcement by Wester Union about sending remittances to Cuba, for now as part of a pilot test.

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Elton Gardner

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