The fall of the peso in Cuba continues to make headlines as the freely convertible currency rises in value. Despite a slight decline of the euro opening a brief parenthesis in the devaluation of the Cuban peso, the trend seems to be continuing. The opening value of the dollar in Cuba on May 10 reached a new high, according to reports from infobae.
The exchange market in Cuba is experiencing a new record for the price of the dollar, as reported by the Cuban Directorate. This ongoing trend has not gone unnoticed, with Otto Ortiz criticizing the government’s inaction in the face of the currency rise. Ortiz is quoted as saying, “The measure taken is to beat them out of fatigue.”
As the economic situation in Cuba remains unstable, it is unclear what measures will be taken to address the falling value of the peso. Stay tuned for further updates on this developing story.