How is the money market in Cuba going down this Saturday, November 16? Below are details of the exchange rates in the formal and informal markets of Cuba, including the values managed by the Central Bank of Cuba (BCC) and the figures published by El Toque media.
This Saturday, the informal market in Cuba shows an increase in the price of the US dollar (USD). Below is a summary of the rates for the euro and the Freely Convertible Currency (MLC).
According to the data reported by Tocthe dollar (USD) has recorded a slight increase, standing at 328 CUP, while the euro and the MLC remain stable at 345 CUP and 265 CUP, respectively.
This small increase in the price of the dollar reflects the volatility of the informal market, where the high demand for foreign currency continues to grow amid the difficult economic situation.
Small and medium businesses, as well as citizens, rely heavily on the informal market to obtain foreign currency with which they can purchase goods in MLC stores or supply their businesses. Although the increase is small, any change in rates has a direct impact on the cost of living, increasing the prices of goods and services.
On the other hand, the stabilization of the euro and the MLC may provide temporary relief; However, the informal market remains the only alternative for many families and companies due to the limited availability of foreign currency through official channels.
Overview of the money market in Cuba this Saturday in November
Despite the recent increase in dollar ratethe last three days are characterized by relative stability in the prices of money in the informal market. However, the general trend is still up, which keeps economic pressure on the country.
US dollar (USD) equivalents in CUP according to the informal market:
US Dollar (USD) to CUP:
1 dollar is now equal to 328 stocks of US dollars
5 dollars now equal to 1 640 US dollars
10 US dollars equals 3,280 kina
20 US dollars now equals 6 560 000
50 US dollars = 16,400 CUP
100 US dollars equals 32 800 kina
In summary, this Saturday, the dollar shows a slight increase while the euro and the MLC remain stable, showing market dynamics that are still essential for daily finance in Cuba.
And the Central Bank of Cuba?
