
{"id":257389,"date":"2022-09-05T17:46:42","date_gmt":"2022-09-05T21:46:42","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=257389"},"modified":"2022-09-05T17:46:42","modified_gmt":"2022-09-05T21:46:42","slug":"cuba-the-dollar-reaches-150-pesos-in-the-informal-market","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuban-economy\/cuba-the-dollar-reaches-150-pesos-in-the-informal-market\/","title":{"rendered":"Cuba: the dollar reaches 150 pesos in the informal market"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/oncubanews.com\/en\/tag\/dollarization-of-cuban-economy\/\" target=\"_blank\" rel=\"noopener\"><b>U.S. dollar<\/b><\/a><span style=\"font-weight: 400;\"> reached 150 Cuban pesos (CUP) this Saturday in the informal market for the first time since the 1990s, when the country experienced the crisis of the so-called \u201cSpecial Period.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cFor the first time, since the 1990s, the dollar reaches the value of 150 Cuban pesos, according to the reference values \u200b\u200bof our Representative Rate of the Informal Market,\u201d assured the independent media outlet <\/span><i><span style=\"font-weight: 400;\">El Toque<\/span><\/i><span style=\"font-weight: 400;\">, which publishes daily a rate of unofficial change, quoted by EFE news agency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This rate, <\/span><a href=\"https:\/\/eltoque.com\/tasas-de-cambio-de-moneda-en-cuba-hoy#informal-calc\" target=\"_blank\" rel=\"noopener\"><b>according to the publication itself<\/b><\/a><span style=\"font-weight: 400;\">, is calculated \u201cfrom the median of the numbers written in advertisements for buying and selling currencies in social network groups and classified sites.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This Sunday, the U.S. currency maintained the same value, which equalized it with the euro, while the virtual currency called MLC, backed by foreign currencies and used to buy at authorized times through magnetic cards, was It was trading at 149.<\/span><\/p>\n<figure id=\"attachment_257392\" aria-describedby=\"caption-attachment-257392\" style=\"width: 1015px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/09\/tabla-divisas-toque-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-257392 size-full\" src=\"https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/09\/tabla-divisas-toque-1.jpg\" alt=\"\" width=\"1015\" height=\"373\" srcset=\"https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/09\/tabla-divisas-toque-1.jpg 1015w, https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/09\/tabla-divisas-toque-1-300x110.jpg 300w, https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/09\/tabla-divisas-toque-1-768x282.jpg 768w, https:\/\/oncubanews.com\/en\/wp-content\/uploads\/2022\/09\/tabla-divisas-toque-1-750x276.jpg 750w\" sizes=\"auto, (max-width: 1015px) 100vw, 1015px\" \/><\/a><figcaption id=\"caption-attachment-257392\" class=\"wp-caption-text\">Table: El Toque.<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In turn, the state Exchange Houses (known as Cadeca) yesterday sold the green ticket at 123.60 CUP and bought it at 110 CUP. This Sunday, those operations would be carried out at 124.80 and 109.20 CUP.<\/span><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2FCadecaCasasdeCambioOficial%2Fposts%2Fpfbid0PdVjNKa876NBo2xG2oXgraEGJvvygEK2kM642CuUGriuGV9aN8Ln6Hec9jPirSf8l&amp;show_text=true&amp;width=500\" width=\"500\" height=\"351\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">To correct the disparity between the official exchange rate of 24 Cuban pesos per dollar, the Cuban government announced last August that it would buy dollars and sell them in a limited way depending on the availability of the note in banks, EFE recalled.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cuban Minister of Economy Alejandro Gil said at that time that the objective is \u201cto recover the purchasing power of wages in Cuban pesos,\u201d to reach a \u201csingle exchange rate\u201d and to attack \u201cthe main problem of the Cuban economy, which is the lack of foreign currency,\u201d the Spanish news agency added.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The measure also reaches other foreign currencies in Cuba.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dollar, which had not reached a value as high as the current one since the \u201cSpecial Period,\u201d began to appreciate progressively \u2014 and to the detriment of the CUP \u2014 since its official exchange rate was unified at 24 to 1 in January 2021, as part of a broad economic reform called <\/span><a href=\"https:\/\/oncubanews.com\/en\/tag\/task-of-reorganization\" target=\"_blank\" rel=\"noopener\"><b>Task of Reorganization.<\/b><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This situation occurs in a context of severe economic crisis, exacerbated by the impact of the pandemic, the sanctions of the United States and the difficulties and internal deficiencies. In this scenario, inflation has multiplied on the Island, as well as the lack of basic products such as food and medicine.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">EFE\/OnCuba<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This Sunday, the U.S. currency maintained the same value, reached yesterday, which equalized it with the euro, while the virtual currency called MLC, backed by foreign currencies and used to buy in times enabled for it through cards magnetic, was quoted at 149.<\/p>\n","protected":false},"author":3134,"featured_media":257391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13904],"tags":[9480,14816,29036],"ppma_author":[33546],"class_list":["post-257389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuban-economy","tag-black-market","tag-cuban-economy","tag-dollarization-of-cuban-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cuba: the dollar reaches 150 pesos in the informal market | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"This Sunday, the U.S. currency maintained the same value, reached yesterday, which equalized it with the euro, while the virtual currency called MLC, backed by foreign currencies and used to buy in times enabled for it through 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