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The US dollar reached a new historical record in Cuba this Saturday, trading at 278 pesos (CUP) in the informal exchange market. This marks a rapid depreciation of the currency following the 2021 monetary reform. The euro also experienced a rise, standing at 283 pesos. These increases come after the announcement of a large macroeconomic adjustment program by the Cuban Government in mid-December. Among the measures announced is the implementation of a new official exchange rate, which stands at 24 CUP per dollar for companies and 120 CUP for individuals. This official rate is significantly lower than the informal market rate.