Cuban Peso Continues to Weaken as US Dollar and Euro Surge

The informal currency market in Cuba has seen significant fluctuations in recent days. As of Sunday, September 27, the US dollar and euro are trading at higher values compared to the previous session. The US dollar closed the day at 740 Cuban pesos (CUP), up from 738 CUP the day before and 713 CUP a week ago, representing a 3.9% increase in the past seven days.

The euro has also seen an increase, closing at 847 CUP, its highest value in the last 30 days. This is a gain of 7.5 pesos from the previous session and 89.5 pesos compared to 30 days ago, although this figure may be affected by methodological adjustments.

The Cuban peso continues to struggle against these currencies, with the gap between the official exchange rate and the informal market rate remaining significant. The official rate for the US dollar is 681 CUP, while the euro is at 776 CUP, far below the values seen in the informal market.