The price of the dollar and the euro continue to fall in Cuba’s informal currency market today

Both the price of the dollar and the euro register a significant downward trend in the informal currency market in Cuba, and the short-term forecasts are that they will continue to lose value.

Although various theories are emerging that justify the fall in the value of foreign currencies in the informal exchange market, the truth is that until now there is a compelling reason that supports the revaluation of the national currency against them.

Apparently this is a self-correction in exchange rates after the speculative impulse of previous weeks that took foreign currencies to the threshold of $400.00 Cuban pesos (CUP).

However, this is excellent news for the majority of Cubans on the island, even though it has not resulted in a lowering of the costs of food and basic necessities.

Essential demand of families, given the suffocating inflation they currently suffer.

Exchange rates today in Cuba

According to the statistics it collects and publishes daily the touch Today the three main currencies that intervene in the informal market suffer another considerable drop in their values.

In the case of the unitary currency of the European Union, it drops another 5 pesos and is already trading around $360.00 CUP. That is, 40 pesos below the 400 barrier, a value at which it remained for several days ago.

The US dollar (USD) and the dollar deposited in Cuban banks (MLC) also fell with the same marker of 5 units in the last hours.

In the case of the USD it reaches $350.00 CUP, maintaining its difference of $10.00 CUP with respect to the euro, while the MLC drops to $290.00 CUP, much further behind the former.