Cuban Informal Market Remains Stable Amid Persistent Currency Shortages

The informal currency market in Cuba remains stable, with the US dollar and euro ending the day unchanged compared to the previous session. The US dollar is trading at 673 Cuban pesos (CUP) at the close of Thursday, July 30, which is the same value recorded on the previous day.

Over the past week, the dollar has increased by 3 pesos, and over the past month, it has risen by 57.5 pesos since it was at 615 CUP thirty days ago.

The euro also closes at 785 Cuban pesos (CUP), unchanged from the previous session, maintaining its lead over the dollar driven by limited supply and demand from those receiving remittances from Europe.

Despite the stability in exchange rates, the official rate of the Central Bank of Cuba remains far below the values that prevail in everyday practice in the informal currency market, reflecting the persistent shortage of foreign currency in the state banking system.