The dollar's price increases on Cuba's informal market: this is the exchange rate

The price of the US dollar increases in the informal market in Cuba: this is the exchange rate today according to El Toque. Other currencies also change their value on the street. The price of the US dollar (USD) in the informal foreign exchange market in Cuba continues to rise, marking a new value of 378 CUP, according to the rate observatory El Touch.

This figure represents an increase of 2 pesos compared to the previous day, consolidating an upward trend that directly impacts the purchasing power of Cubans. Both the American dollar like the euro The European zone's prices continue to rise, with the European currency having more power, even in the world market.

In addition to the dollar, Other currencies also show significant changes: The euro (EUR) is quoted at 410 CUP, MLC en 260 CUP, the Canadian dollar (CAD) in 259 CUP (with a slight drop of 1 peso), and the Mexican peso (MXN) remains at 19 CUP.

For its part, operations through Zelle are located in 375 CUP, reflecting its growing use as an alternative for international transfers within the island, on the Cuban black market.

Price of the dollar in Cuba today: Official rates

In contrast, official rates of the Central Bank of Cuba (BCC) They present a fixed exchange rate for the dollar 120 CUP for the population, well below the informal market value. This difference underscores the disconnect between official exchange rate policy and day-to-day economic reality.

The dollar's rise in value on the black market is due to several factors, including a shortage of foreign currency, high demand for personal imports and embassy procedures, and the instability of the national banking system.

Economists warn that this exchange rate gap will continue to generate economic distortions in a context already marked by inflation and the loss of purchasing power in Cuban pesos, the currency earned by workers on the island.