Fall in the price of the dollar on the informal foreign exchange market in Cuba

The price of the dollar in the Cuban informal market falls again according to El Toque us, amid growing exchange rate instability and limited access of citizens to foreign currency in Cadeca or Cuban banks.

Follow the daily cachumbambé in the price of foreign currency on the island, on the Cuban black market. This time it was the US dollar that was in a "tough patch," at least for the time being. The euro remains the most valuable foreign currency on the parallel currency market.

This Friday, the price of the dollar in the informal foreign exchange market in Cuba fell to 368 CUP, a fall of 2 Cuban pesos compared to the previous day, according to the daily monitoring of the platform independent El Toque.

Meanwhile, the euro remains at 385 CUP, the MLC en 260 CUP, and the dollar for Zelle increased to 373 CUP, with a rise of 7 CUPThe Canadian dollar continues to trade at 230 CUP.

These movements reflect the growing Instability of the informal foreign exchange market in Cuba, where the lack of official access to foreign currency forces many citizens to turn to the black market to meet basic needs or even carry out procedures at embassies.

Price of the dollar in the Cuban foreign exchange market

According to expert analysis, this volatility is due not only to global economic factors, but also to the absence of a clear state policy for the sale of foreign currency to the Cuban population.

In practice, most Cubans lack access to foreign currency in banks or official exchange offices, which exacerbates speculation and the gap between the official and real values ​​of the dollar and the euro.

The tracking tool El Toque today, In its daily report, it allows us to visualize how the dynamics of the informal market directly impact the Cuban domestic economy and clarifies the price of the dollar in the informal foreign exchange market in Cuba, although it is not officially recognized.

For official rates for buying and selling foreign currency on the island: click here