Cuban Informal Market Shows Signs of Stability Amid Currency Fluctuations

The Cuban informal market is showing signs of stability and growth, according to data from CiberCuba. The US dollar has remained unchanged compared to the previous day at 683 Cuban pesos (CUP), while the euro continues to rise, opening at 777 CUP.

This represents a slight increase of 3 pesos compared to the previous day and a weekly trend that is also upward. Over the past month, the euro has fluctuated between a high of 785 CUP and a low of 746 CUP, surpassing the dollar by 94 pesos.

The MLC (Moneda Libremente Convertible) has declined to around 451 CUP as a guideline, but available data for this currency is limited during this timeframe. The official exchange rate set by the Central Bank of Cuba remains significantly below the rates in the informal market, highlighting the disconnection between the formal economy and everyday reality.

The stability of the dollar at this opening does not alleviate the accumulated pressure on those who depend on remittances or currency trading to meet their daily needs. The exchange rate is an index of the Cuban informal market developed from automated analysis of thousands of currency trading posts in Telegram and Facebook groups.