After two days without movementsthis Monday the informal currency market in Cuba once again shows signs of instability.
The discreet rise of two units experienced by The U.S. dollar (USD) in the informal currency market in Cuba leaves its price at 362 Cuban pesos (CUP).
For its part, the euro suffered a notable drop of five pesos that leave your quote at 370 CUP. The freely convertible currency (MLC) remains unchanged and It is quoted at 300 CUP.
The “miraculous static” or relative stability achieved in the last two days threatens to collapse, and with it the decline of the national currency will be accentuated, devalued and turned into wet paper in the pockets of Cuban families.
The volatility of the informal currency market and the passivity of a government incapable of bringing order to economic and monetary policy keep Cubans in suspense.
Although discreet, the rise of two pesos in the price of the dollar and the fall of the European currency heralds a new streak of alterations in the price of currencies.
Among the “new actors in the economy”, the recipients of remittances and the black market operators, there are many who foresee new increases in the price of currencies, taking into account the absence of “corrections” and economic and monetary policies aimed at the stability of the peso against currencies.
Exchange rate today 06/24/2024 – 7:12am in Cuba:
- Dollar exchange rate USD to CUP according to the touch: 362 CUP
- Euro exchange rate EUR to CUP according to the touch: 370 CUP
- Exchange rate of MLC to CUP according to the touch: 305 CUP
These values provide a quick reference for the conversion of dollar and euro bills to Cuban pesos, according to the current informal exchange rate.
