Amid the instability in the informal currency market, Cuban comedian Ulises Toirac, with his unique humor, opined that the chaos in foreign currency prices began 65 years ago. According to Toirac, "the crouching to gain momentum for the currencies (and their subsequent rise) has unleashed a collective hysteria and a remarkable behavior in product sales," he expressed on Facebook, alluding to the relationship between the black market and inflation in Cuba, which keeps the population on edge.
Showcasing the comedy that has won him many admirers, Toirac explained the phenomenon in his own terms: "That Borondongo hit Bernabé and... (the lemon seller charges high because his builder ripped him off, because the builder was ripped off by the barber, because the barber was ripped off by the cigarette seller, because the cigarette seller was ripped off...) is nothing more than a reflection of a social consciousness that has detached itself from the value at which we acquire currencies." "And they won't stop. Neither the dollar nor Borondongo," he said on the social network. "This went out of control 65 years ago."
In this regard, the comedian expressed his deep concern about the dehumanization reigning in Cuban society today, where the law of the jungle, or the one with the most money, prevails. "'You shall help your neighbor' is the most violated in this island despite 'You shall not commit adultery with another's wife' being on the hit parade forever," he pointed out.
Lastly, Toirac considered that worldwide, "currencies behave temporarily like this, even when economic logic indicates otherwise, and it is due to many other factors including psychological ones."
Recently, Cuban economist Emilio Morales in an interview with CiberCuba opined that it is "impossible" for the Cuban peso to have revalued on its own, gaining ground against the dollar, as has happened in recent days. He also pointed to the "ciberclarias" from the UCI (University of Informatics Sciences) as responsible for the buying and selling of currencies below the price set by the black market.
In Emilio Morales' opinion, the only news that could revalue the peso is "that the government fell" because there could be hope for a change in the system. Until that happens, the peso will continue to rise."
Understanding Cuba's Currency Crisis
To provide more clarity on the situation, here are some common questions and answers about the currency crisis in Cuba.
What triggered the rise in foreign currency prices in Cuba?
According to Ulises Toirac, the instability in the currency market has historical roots dating back 65 years. The collective hysteria and inflation have led to significant fluctuations in currency prices.
Who does Emilio Morales blame for the current currency situation?
Emilio Morales points to the "ciberclarias" from the UCI as responsible for manipulating the currency market by buying and selling currencies below the black market price.
What could potentially revalue the Cuban peso, according to Emilio Morales?
Morales believes that the only event that could revalue the peso is a change in the government, as it could bring hope for a systemic change.