It concludes a year in which the Cuban economy became more dollarized. In the midst of a shortage of all kinds of products, there are practically no stores selling products that are issued in Cuban pesos.
Instead, foreign exchange institutions have taken the stage. Although it is not often offered, only some foods, hygiene and cleaning products can be found.
That is why many are following with interest the dollar rate on the unofficial market. The news is that the US currency (USD) fell a bit more on the last day of the year.
This was reported by the independent media El Toque, which every day gives an estimate based on a review of the sites for buying and selling currencies on the Internet and social networks.
According to the representative rate calculated by El Toque, each dollar is priced today at 170 pesos (CUP) on the unofficial Cuban market. It is three units lower than the previous day.
In the Houses of Exchange (CADECA), the usual exchange rate of 1 x 123.60 CUP remains unchanged.
The freely convertible currency (MLC) is trading at $168 after several days of depreciation. In this sense, the better currency in terms of value is the euro, which is still priced at $175 Cuban pesos.
Economic crisis and currency rates
A few weeks ago there was a slight decrease in the prices of various currencies. However, no one ventures to point out reasons, other than only speculative ones.
The context remains one of a protracted economic crisis, due to the combination of chronic structural problems, the coronavirus pandemic, and US sanctions. Added to this are the effects of the Russian invasion of Ukraine.
The horizon does not look hopeful for Cubans, despite the government’s optimistic forecasts.
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