How far the price of the US dollar (USD) will fall in the Cuban informal market, no one can predict. The truth is that since January 17 it continues to drop, slowly. This is reflected by the independent newspaper 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 trading on Saturday at $160 pesos (CUP) in the Cuban informal market. Thus, it drops two points in relation to the previous day.
Regarding the official rate in the Exchange Houses (CADECA) it remains unchanged at 1 x 123.60 CUP. This has been the case 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. After being marketed on Friday at 157 pesos, on Saturday its price fluctuated around $158 CUP.
For its part, the euro remains stable in purchases and sales in the island’s informal market. On Saturday it was trading at $165 Cuban pesos, the same as in the previous days.
The currency of the old continent continues to be the best valued currency in the unofficial exchange market.
Currency exchange rate in Cuba
The slow 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. It remains mired in a deep crisis.
The change in the immigration policy of the United States towards Cuba could be influencing more, with the closing of borders and the so-called parole.
Added to this is the recent announcement by Wester Union about sending remittances to Cuba, for now as part of a pilot test.