Cuban Currency Market Sees Mixed Movement as Dollar Holds Steady

The informal currency market in Cuba is experiencing mixed movement this Friday, July 31. The US dollar has remained unchanged for the third consecutive session, while the euro has seen a slight decline and the MLC has lost some ground.

According to CiberCuba's Exchange Rate Index, which analyzes thousands of transactions on Telegram and Facebook groups, the dollar is currently valued at 673 Cuban pesos (CUP), with a purchase price around 670 CUP and a sale price of about 675 CUP. This represents a notable stability in the short term.

However, looking at the monthly perspective, the picture is quite different. The dollar has increased by approximately 53 pesos compared to 30 days ago, representing an 8.5% rise. It continues to set the tone for the informal market in a context of structural currency scarcity.

The euro, on the other hand, is valued at 785 CUP, with a buying rate around 780 CUP and a selling rate of about 790 CUP. This represents a decrease of 1 peso compared to the previous day, although the change is minimal. In the weekly comparison, the euro is gaining ground, having increased by 7 pesos over the last week.

The MLC is trading at around 475 CUP, with a purchase price around 449 CUP and a selling price close to 501 CUP. This represents a decline of 3 pesos from the previous session, and has dropped an additional 6.5 pesos in the last week, and a total of 13 pesos over the past month.