Cuban Currency Market Declines Across Key Benchmarks

The informal currency market in Cuba has experienced declines across its three main benchmarks. The US dollar dropped five pesos, now trading at 668 CUP, while the euro fell by eight, opening at 768 CUP. Meanwhile, the MLC (Freely Convertible Currency) plummeted 15 pesos to 443 CUP.

The dollar's daily decline of 0.7% is particularly notable, having fallen from 673 to 668 CUP in a single day. This marks a loss of five CUP compared to the same time last week, equivalent to a 0.7% decrease. In contrast, the euro has dropped by 1% compared to yesterday's rate, and 2% over the past seven days.

The MLC suffered the largest percentage drop since its opening, with an average value decreasing from 458 to 443 CUP, a daily reduction of 15 pesos or 3.3%. Over the course of seven days, it has accumulated a loss of 39 CUP, equivalent to 8.1%, from 482 pesos.

The Central Bank of Cuba's official rate for Segment III remains at 624 CUP per dollar and 721 CUP per euro. This represents an increase in the official dollar rate over the past 30 days, from 592 to 624 CUP, as well as a rise in the official euro rate from 676 to 721 CUP.