Cuban Informal Currency Market Shows Mixed Signals Amid Persistent Shortage

The Cuban informal currency market is showing mixed signals on Tuesday, July 28. The dollar has seen a slight decline in value compared to the previous day, trading at 673 Cuban pesos (CUP) with a buying price around 670 CUP and a selling price of 675 CUP.

This represents a decrease of 1 peso from Monday's average value of 674 CUP. However, over the past week, the dollar has risen by 5.5 pesos to an increase of 0.8%, and in the last 30 days, it has accumulated a gain of 57.5 pesos, or 9.3%.

The euro remains unchanged from Monday's value at 788 CUP with a buying range at 780 CUP and a selling range at 795 CUP. In comparison to this time last week, the euro has risen by 17 pesos, an increase of 2.2%. Over the past month, it has gained 87.5 pesos or 12.5%.

The MLC, which is used in limited transactions for state-run businesses, is trading around 485 CUP with a buying rate of 430 CUP and a selling rate of 539 CUP. However, its value declined by 9.5 pesos compared to the previous day, or a decrease of 1.9%.

The gap between the official and informal exchange rates remains significant, exceeding 72 pesos for the dollar and 104 pesos for the euro. This reflects the disconnection between the formal economy and everyday transactions in Cuba.