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Record price of the dollar TODAY in the Cuban informal market!

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Record price of the dollar TODAY in the Cuban informal market!

The US dollar reached a new high in the informal currency market in Cuba on February 10, while the euro also strengthened and the Freely Convertible Currency (MLC) remained stable. The national currency, the Cuban peso, continues to lose value against foreign currencies.

The disparity between the quotes of the main currencies in the informal market and the official exchange rate established by the Central Bank of Cuba (BCC) reflects the high demand for foreign currency on the island, amidst a deep economic and social crisis.

According to independent media El Toque, the American dollar reached 300 Cuban pesos, while the BCC buys it at 120 pesos. The euro remains stable at 300 Cuban pesos, and the MLC is bought and sold at 260 Cuban pesos.

The scarcity of foreign currency has led to high demand, especially for the dollar and the euro, as Cubans seek to purchase basic products and access stores that accept MLC. The informal exchange market, which the Cuban state does not control, creates a situation of insecurity and variability for the population.

The Cuban government is urged to take urgent measures to address the economic and financial crisis.

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