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MLC (Freely Convertible Currency) Price in Cuba on the Rise

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MLC (Freely Convertible Currency) Price in Cuba on the Rise

The price of the MLC (Freely Convertible Currency) in Cuba has seen a recent increase after a period of stability. According to statistics from elToque, the average sales value on Monday was $290.00 CUP, which is a two-peso increase from the previous day’s rate of $288.00 CUP.

Meanwhile, both the dollar and the euro have remained steady in the last few hours, with the dollar at $360.00 CUP and the euro at $370.00 CUP, which is 10 pesos higher than the previous day.

The rise in the banked dollar has caused some tension as rumors swirl about its possible disappearance. The Cuban government has expressed intentions to address imbalances caused by the Ordinance, and the MLC’s function as a means to capture physical dollars and euros has shown weaknesses due to limited offers in stores and decreasing public confidence in the banking system.

Despite these challenges, the MLC is lagging behind the dollar and the euro in the informal currency market. It is advised to remember that elToque’s reference rates are based on announcements of purchase and sale, and should be viewed as a reference rather than completed transactions.

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