The beginning of May in the informal foreign exchange market in Cuba, today, starts as April ended, with record prices in the purchase and sale of the dollar, euro and the Freely Convertible Currency (MLC). The European currency is close to 400 pesos on the black market.
Foreign currencies continue their dizzying rise in the Cuban informal market, as reported this Wednesday, May 1, by the independent media El Toque in its daily analysis. The euro, the dollar and the MLC reached new historical exchange rates and the Cuban peso depreciates more every day.
These figures represent a hard blow for the Cuban economy, since the majority of citizens depend on the Cuban peso, which continues to lose value against foreign currencies. The situation is especially difficult for these Cubans who do not have access to remittances or foreign currency income, as they are forced to pay increasingly higher prices for basic products and only depend on a paltry salary.
It is difficult to predict what will happen in the future, but the current trend is worrying. The economic situation in Cuba is increasingly complex, and it is important that the government take effective measures to help the population, in something that has undoubtedly gotten out of hand.
Currency prices in Cuba TODAY: total record!
The upward trend in the price of the dollar and the euro in the Cuban informal market shows no signs of slowing down, according to experts. In fact, some predict that the situation could worsen in the coming months, with prices that could exceed 400 Cuban pesos per dollar or euro in the coming weeks of May.
In fact, currencies in Cuba today skyrocketed, according to the aforementioned media, and the euro is close to 400 Cuban pesos for the first time. The euro on the island woke up today with a record price of 390 pesos, the American dollar reached 380 Cuban pesos and the MLC at 295 Cuban pesos. This is how currencies appeared in Cuba today.
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