Cuba’s Informal Currency Market Sees Euro Exchange Rate Hit Record High for Fourth Day Straight

by time news

2024-04-28 10:58:52

The IS euro exchange raterecord mark in the informal currency exchange market in Cuba for the fourth day in a row.

Details from the independent press elToque They indicate that this Sunday at the European currency is quoted in Cuba at 385 CUPfive pesos more than sa a day before that.

he American dollars It has been sold since Friday at a record high of 370 CUP and the free convertible currency (MLC) whose value is fixed at 290 CUP.

Exchange rate today 28/04/2024 – 6:13 am in Cuba:

Exchange rate from USD to CUP according to TOQUE: 370 CUP

Exchange rate from Euro EUR to CUP according to elTOQUE: 385 CUP

Exchange rate from MLC to CUP according to elTOQUE: 290 CUP

Alternative exchange rate from other platforms:

Dollar exchange rate (USD): Buy 371 CUP, Sell 372 CUP

Euro (EUR) exchange rate: Buy 380 CUP, Sell 380 CUP

MLC exchange rate: Buy 291 CUP, Sell 291 CUP

Currency Exchange in Cuba: No response to rising prices

The Cuban government, aware of the problems of the informal currency market, has not yet presented effective solutions or clear proposals to stabilize the exchange rate and promote measures to reactivate the economy.

Meanwhile, in the informal market, the price of currencies continues to increase, without showing signs of stabilization, which contributes to the country’s economic crisis.

The increase in the value of foreign currencies is explained by the dynamics of supply and demand in the informal market. In addition, the devaluation of the Cuban peso has been reinforced by its limited need in daily transactions, such as buying gasoline or products in stores that operate in MLC.

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