Cuban Informal Market Sees Dollar Hold Steady, Euro Slightly Decline

The Cuban informal market witnessed little change on Wednesday morning, July 29. The US dollar (USD) maintained its value at around 673 Cuban pesos (CUP), while the euro (EUR) saw a slight decline of 2.5 pesos, now trading at 785 CUP.

The Freely Convertible Currency (MLC) was hovering around an indicative value of 478 CUP, but this figure should be taken with caution due to limited transactions. The official exchange rate set by the Central Bank of Cuba remains far below the informal market values, with a gap that reflects the persistent shortage of foreign currency in state banking systems.

The dollar has been the dominant force in the Cuban parallel market, surpassing its official counterpart by 68 pesos and leading the euro by 96 pesos. The exchange rate of CiberCuba is an index created through automated analysis of thousands of trading posts in Telegram and Facebook groups, weighing each transaction according to its age.