The trend in the price of currencies in Cuba today, May 2, remains upward, with emphasis on the European zone euro and the American dollar. At the same time, the depreciation of the Cuban peso seems unstoppable. We detail it below.
The euro, the dollar and the Freely Convertible Currency (MLC) reached new historical highs in the Cuban informal market yesterday, May 1, according to the independent media El Toque in its daily analysis.
This upward trend continues at a dizzying rate, which means that every day the Cuban peso devalues more, sometimes like this day 2, a certain stability is maintained in the price of currencies in Cuba today, but throughout the day that can vary.
As we know, this escalation in the prices of foreign currencies has a negative impact on the Cuban population, since it reduces the purchasing power of the people and with fewer and fewer Cuban pesos, people can buy fewer essential goods.
Those who have access to foreign currencies, such as remittances from abroad, are favored, while those who do not are left behind, depending exclusively on the state, which has very little to offer.
Price of currencies in Cuba today
This is a situation that we analyze daily, the price of currencies in Cuba today and the daily impact that this upward trend has on the pockets of “ordinary” Cubans.
It is increasingly difficult for the population to buy basic products such as food and medicine on the black market, since many of them can only be purchased in stores that accept Freely Convertible Currency (MLC) or foreign currencies.
The reasons for the rapid increase in the price of currencies in the informal market are complex and related to several factors, but the government continues to stand idly by.
This is the price of currencies in Cuba today, according to Toque: the euro remains at 390 Cuban pesos, the dollar at 380 Cuban pesos and the MLC at 295 Cuban pesos. This week, the euro should reach 400 pesos.
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