Cuban Currency Market Sees Mixed Results as Dollar and Euro Trade at New Levels

The Cuban currency market opened this Thursday, September 3, with mixed results. The US dollar remains unchanged compared to yesterday's rates, but shows a weekly upward trend.

At 10:00 a.m. local time, the dollar is trading at an average price of 678 Cuban pesos (CUP), while the euro has resumed its rise and is currently exchanging for 773 CUP, up 3 pesos from yesterday's rates. The MLC has also increased in value, but due to limited data, this rate should be taken as a guideline.

The official exchange rate set by the Central Bank of Cuba (Segment III) is well below the values prevailing in the informal market, reflecting the ongoing currency crisis in the country. The difference between the official and parallel market rates for the dollar is 40 pesos, while for the euro it is 34 pesos.