In an unusual movement for many, the MLC was revalued in the last hours in the Informal currency market In Cuba.
The Cuban electronic currencies had remained in recent weeks in the 240 pesos (CUP), its lowest value in several months. He had done it after experiencing a decrease in the first days of the year along with the new commitment of the Cuban authorities for the dollarization.
However, despite not having any change in the socioeconomic scenario of the country or a new measure of the Cuban government on the exchange rate, this Tuesday, the value of the MLC dawn in 245 CUP, according to the independent media The touch.
This movement occurs after some euro oscillations in recent days, which led to an increase in European currency to the 345 CUP it shows Since yesterday. The dollar, on the other hand, has remained stable in the 340 CUP, according to the rate of that publication, calculated from the proposals for purchase and sale in the digital environment.
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In this way, the MLC, which not experienced an increase from beginning of December “When she briefly rose to 270 CUP, and then rush into the fall,” it rises again two months later, although its ascent is still small and within a limited range.
However, it does not allow it to be striking because of the context in which it occurs and for being up – and not down, as many thought – the movement with which it has been granted, after a period of stability.
In dollarization times
In the midst of a severe economic and financial crisis on the island, the Cuban government He has defended Repeatly in recent months the dollarization in progress, which has been considered as a “necessary process” and has limited as “partial”, “gradual” and “short -term”.
As part of it, it has already opened several stores – and has announced the opening of others – in which purchases are paid in dollars or on cards associated with bank accounts in that currency and among which cards have not been included in MLC.
At the same time, the existing stores in which this electronic currency is used have suddenly show Valid the national currency.
Dollarization expands in Cuba to reach stores and internal business businesses
In this context, not a few predicted – and they continue to do it – the death of the MLC. However, the authorities They have insisted in which such currency will not disappear.
“These accounts called in MLC and the commitment of the banks are maintained in the obligations with their clients, based on the funds they have represented or the funds they may have in the future,” said Alberto Quiñones, vice president of the Central Bank of Cuba (BCC), during a recent broadcast of the Round table.
“Even the cards associated with MLC accounts maintain their operation on the network designed to operate, and banks, as part of their options and works, will continue to seek alternatives to expand their facilities and uses,” he added.
Introduced at the end of 2019, the MLC was then validated as “the most practical mechanism” to capture currencies through remittances through the retail network, according to the then Minister of Economy, Alejandro Gil Fernández, dismissed anus.
On more than one occasion, GIL and other authorities defended the relevance of stores in MLC, and assured that if there is no economic situation in the country, it would be even more complex, despite the questions and analysis in another direction of academics and independent experts .
Little by little, the shortage of these stores and the renewed government bet for the dollar cash They dropped their price in the informal market, even with fluctuations. It remains to see if this promotion of today marks a trend or is just a fluctuation in the current scenario of the informal currency market with dollarization as a backdrop.
