In Cuba, doubts resurface every time a currency exchange is announced. The question is repeated on the street and on social media: Are they paving the way for the dollar to become the "official" currency?
Cuban peso
Information from the Central Bank of Cuba on the use of the dollar in the country
Following the latest changes in Cuba's economic landscape The Central Bank today published valuable information about the mayor and the new measures.
The Central Bank admits that there are currently no reserves to sustain a fixed interest rate.
The recent broadcast of the program Squaring the Box It revealed a point that, until now, had not been expressed so clearly by the monetary authorities.
Cuban government confirms it will implement a flexible exchange rate system to fix the dollar in the official market
Recent televised debates on the country's monetary situation offer a clear clue as to the immediate economic direction. Economic authorities confirmed in Squaring the Box that the traditional approach to sustaining the value of the Cuban peso is no longer viable in the current scenario.
The Cuban government acknowledges it cannot unify the currency: this is how the new exchange market will work
Recent appearances on national television revealed an unusual shift in the official economic discourse.
Cuban government again labels informal currency exchange market as illegal
The authorities publicly reiterated their stance on foreign exchange transactions that occur outside the state system.
Cuban government confirms three exchange rates and induces partial dollarization
Monetary policy is back at the center of the official discourse, but this time with more explicit statements about the path the Government intends to take.
The same mistake again? Cuba's new currency exchange market raises concerns among economists
The Cuban foreign exchange market: the recurring pattern of error from 2021, according to Cuban economist Pedro Monreal. Will we continue down this path? More details to follow.
Díaz-Canel accuses El Toque to promote the depreciation of the Cuban peso
President Miguel Díaz-Canel blamed the independent media outlet on Saturday El Toque to contribute to the depreciation of the Cuban peso, amid a wave of criticism from the government towards the platform that publishes the informal currency market rates daily.
Central Bank and new exchange rate policy: Pedro Monreal questions the official approach to the informal market
Recent pronouncements by the Central Bank of Cuba regarding the future creation of an official exchange market have generated intense debate. The first reactions were swift, including those of economist Pedro Monreal, who published a series of critical comments on his social media accounts.
Exchange rates of El Toque Today: Slight rebound of the dollar and the euro in the Cuban informal market after two weeks of decline
After more than two weeks of continuous declines, the informal currency market in Cuba showed a slight rebound in the main foreign currencies on Tuesday, November 11, according to rates published by El Toque in its daily monitoring. At 5:25 am, the euro was trading at 470 CUP, the US dollar at 440 CUP and the MLC to 204,50 CUP.
The price of the dollar and the euro fell by more than 80 pesos in just over a week in Cuba.
The value of the dollar and the euro in the Cuban informal market experienced a sharp drop in the first days of November, according to exchange rates published by elTOQUE.
What does the recent rise in the dollar and euro reveal about the Cuban economy?
The euro and the dollar are soaring unchecked after days of decline and attacks on the Cuban state: the Cuban informal market returns to its usual tension and the Cuban peso continues to devalue.
How are foreign exchange rates in Cuba this morning?: informal and official market exchange rates
The behavior of currencies in the Cuban informal market continues to show signs of adjustment after weeks of volatility.