Cuban Currency Market Sees Sizable Declines Across Benchmarks

Cuba's informal currency market has seen significant declines in its main benchmarks on Tuesday. The US dollar dropped five pesos, now trading at 668 CUP, a 0.7% daily decline from Monday's close of 673 CUP.

The euro also experienced a drop, losing eight pesos to open at 768 CUP, representing a 1% decrease compared to Monday's rate and a 2% weekly loss since last Tuesday.

The MLC (Freely Convertible Currency) suffered the largest percentage drop, falling 15 pesos to 443 CUP, a daily reduction of 3.3%. Over the past seven days, it has accumulated a loss of 39 CUP, equivalent to an 8.1% decline.