Cuban peso in depreciation

REUTERS/Stringer/File Photo

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Cuban peso in free fall against the dollar
  • The Cuban peso was trading at nearly 100 to the dollar on the informal market Tuesday, according to a trader and online trackers, a depreciation of more than 30% in less than a month and four times the fixed official rate.
  • The peso’s free fall is bad news for a population that for two years has confronted a grave economic crisis here and unusually severe shortages of food, medicine and other goods, a predicament made worse by the coronavirus pandemic and the Cold War-era U.S. embargo.

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