He US dollar (USD) this Monday reached the barrier of 200 Cuban pesos in the informal market, an unprecedented value that experiment in October 2022.
The limit has already been exceeded by the euro, which today dawns at 205 pesos, while the freely convertible currency (MLC) remains stable at 185 pesos, according to the daily index published by the independent media The touch.
The indicator is based on a system that tracks transactions on various digital platforms and websites, and is used as a reference by economists and the general population.
In Cuba, the informal currency market is widespread and its presence gained strength after the 2021 monetary reform, which ended the convertible peso (CUC), a currency whose value was linked to that of the dollar.
official exchange market
In an attempt to counteract this trend, the government launched a currency exchange market with a rate of 123 pesos per dollar.
However, the acquisition of dollars through banks and Exchange Houses (Cadeca) is limited to only 100 USD per person, who must access the defective Ticket digital platform to schedule the purchase date.
Last April, the Cuban Central Bank announced that it would once again accept US dollar cash deposits into bank accounts, thereby reversing the existing ban.
Cadeca announces that it will be possible to buy dollars and deposit them on cards
The rise in the value of foreign exchange in the informal market occurs in the midst of an unprecedented increase in the prices of products on the island, fuel shortages and a price cap on private transportation in Havana – which triggered a stoppage of the activity in the last days-.
Likewise, the last heavy and intense rains over the central and eastern areas of the country created a desolate panorama as a result of the floods that cause loss of material resources, serious damage to infrastructures, roads, agriculture and the collapse of houses.
