CUBAN CURRENCY HITS RECORD LOW AS DOLLARIZATION GAINS GROUND
https://media.zenfs.com/en/reuters.com/ab3a39748cfc2c0303dd013cfeff6cb8
✍️ The Cuban peso has reached an all-time low of 400 to the dollar on the informal market, amid a partial dollarization of the economy and social tensions.
👉 The Cuban peso has reached an all-time low of 400 to the dollar on the informal market. 👉 The partial dollarization of the economy has gained momentum, stoking social tensions. 👉 The government blames US sanctions for the economic crisis, while critics blame a sluggish reform of the economy. 👉 The peso has depreciated nearly 25% this year, with the dollar trading at 305 pesos on January 1 and 40 pesos when the tracker debuted in 2021. 👉 The government has acknowledged dollarization and inflation have increased inequality in the country.
-- #MarcFrank #ManuelMarrero #MiguelDiaz-Canel #FreddyPortillo #NelsonAcosta #AnetRios #RodNickel #HAVANA #world
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