The dollar rises and the MLC retreats in the Cuban informal market

The informal foreign exchange market in Cuba registered opposite movements on Tuesday, October 20, in two of its references: the dollar advanced and the freely convertible currency (MLC) retreated. The day left uneven changes between foreign currencies and the MLC, in quotations that interest those who need to exchange money, buy foreign currency or receive remittances. The behavior of the day was not uniform for the different currencies.

The dollar gained five pesos compared to the previous day, according to the figures on its daily variation. The advance continued its upward trend during that date. The registered exchange rate offers a reference on the movement of the dollar in the informal market, although the data that stands out for the balance is the increase compared to the previous day, not an absolute sales figure.

The MLC, on the other hand, lost value during the day. Its decline was described as pronounced within the market movements, although the balance does not depend on setting a single quote for that currency. The difference in direction with respect to the dollar summarizes the clearest feature of the day: the exchange references did not advance together and each currency had its own evolution.

These variations are of interest to those who buy foreign currencies, receive remittances or need to exchange money to cover daily expenses. In these situations, both a rise and a fall alter the reference against which the exchange is calculated. The advance of the dollar and the decline of the MLC imply that the summary of the day should distinguish between the two trends, rather than presenting the market as a uniform movement.

The balance corresponds to Tuesday, October 20 and refers to the Cuban informal market. For those who follow these quotes, the main signal was the daily increase of the dollar, of five pesos, together with the decline of the MLC. Both movements show that the references can evolve in different directions within the same day and that their monitoring is pertinent for those who participate in money exchanges or receive remittances.