Cuban Dollar Surpasses 700 Pesos Threshold, Euro Hits New High

The US dollar in Cuba has breached the 700 pesos threshold, settling at 703 CUP on Friday. This marks its highest point in 30 days and a 15 CUP increase from just seven days ago.

The informal market seems to be accepting this new normal as pressure mounts due to foreign currency shortages, inflation, low state wages, and the demand for dollars to protect savings or conduct business operations.

Not only is the dollar experiencing high values, but the euro has also reached an all-time high of 803 CUP, surpassing the dollar's value by a hundred pesos. The MLC (Freely Convertible Currency) stands at around 454 CUP.