Cuban peso continues to lose value, inflation continues to skyrocket

From our Bureau of Socialist Utopian Economics

Cubans keep getting socked by high prices as the peso loses value and prices rise not only in government-run stores but also in foreign currency stores and the black market.

Once again, praise to the Revolution! Socialism or death!

Loosely translated from Diario de Cuba

The Cuban peso is suffering another significant devaluation this April on the island, which is why, on exchange and sales sites, portals such as Revolico, or in the exchange rate itself published daily by the independent media outlet El Toque, both the dollar , such as the euro and the Freely Convertible Currency (MLC) have increased their value notably with respect to the national currency.

According to the rate published by El Toque, based on a mathematical analysis of the offers in the different informal currency exchange groups, at the end of April the price of the dollar has been established at 112 Cuban pesos, while the MLC reaches 120.5 Cuban pesos and the euro costs 125.

These values ??correspond to those found by DIARIO DE CUBA in buying and selling groups and commercial portals such as Revolico, where there are advertisements such as “Dollars at 115 mn” or “I buy 5,000 dollars or whatever I have at 113” with dates of 28 and 27 April respectively.

“I buy euros at 120 cup. I’m looking for them,” a citizen named Idania wrote on the same portal last Wednesday, while another, identified as Eduardo, published the following message on Thursday: “I have 1,300 euros at 127 cup. I’m from Playa” .

Such is the case of the MLC, where since last week it has been common to find people selling the essential Cuban virtual currency to buy in the best-stocked stores in the country for 120 Cuban pesos.

Continue reading HERE in Spanish

1 thought on “Cuban peso continues to lose value, inflation continues to skyrocket”

  1. Who cares? It’s worthless money anyway. What matters is “diaspora” money or money from foreigners.

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