The director of El Toque, a popular Cuban news source, recently sat down for an interview to discuss the ongoing rise of the dollar in Cuba. Despite efforts by the Cuban government to stabilize the currency market, the dollar and euro continue to climb in value on the informal currency market.
There are 13 key reasons behind this increase in the value of the dollar in Cuba, according to experts. Factors such as the economic downturn in the country, a lack of foreign investment, and the ongoing economic crisis have all contributed to the situation.
The freely convertible currency has now broken the barrier of 300 Cuban pesos, causing concern among citizens and businesses alike. The MLC is also on the rise, indicating a growing trend towards using foreign currency in daily transactions.
This news comes as a surprise to many in Cuba, who had hoped to see stability in the country’s currency market. With the dollar and euro continuing to rise, it remains to be seen how the Cuban government will address this issue and what impact it will have on the economy as a whole. Stay tuned for updates on this developing story.