Cuba's Black Market Exchange Rates Unchanged Amid Structural Scarcity

The informal currency exchange market in Cuba has begun this Friday, August 21, with a sense of calm. As of 10:00 a.m. local time, the value of the U.S. dollar and the euro remains stable compared to the previous day. In contrast, the MLC shows a slight decline.

The U.S. dollar is trading at 663 Cuban pesos (CUP) on the black market, with a buying rate of 660 CUP and a selling rate of 665 CUP, unchanged from the previous session. This represents a drop of just 2 pesos from 665 CUP over the past week (-0.4%), and a decrease of 5 pesos (-0.7%) compared to 30 days ago.

The euro is being traded at 750 CUP, with a buying rate of 740 CUP and a selling rate of 760 CUP. Although it remains stable from the previous session, it has fallen by 10 pesos compared to the 760 CUP rate a week ago (-1.3%). A month ago, the euro was valued at 775 CUP, a drop of 25 pesos (-3.2%).

The MLC is approximately valued at 467 CUP, with a buying rate of 442 CUP and a selling rate of 492 CUP. This represents a 4 peso drop from the previous day's 471 CUP (-0.8%). Over the past week, the MLC has increased by 10.5 pesos from 457 CUP (+2.3%), and over the last month, it has risen by 28 pesos from 439 CUP (+6.4%).

The informal market operates independently of state financial institutions, functioning through networks of private transactions. While not officially acknowledged by the Cuban regime, it effectively determines the real purchasing power of Cubans.