Cuba's Informal Currency Market Closes with Dollar Stability and Euro Decline

The informal currency market in Cuba closed on Monday with mixed results. The US dollar remained unchanged at 673 Cuban pesos, while the euro declined by approximately 2.5 pesos (-0.3%) to around 785 CUP. In contrast, the freely convertible currency (MLC) recorded an increase of 10 pesos (+2.1%) compared to Sunday, reaching an indicative average value of 489 CUP.

The dollar's price stability over the past week is a notable trend, with its current closing price matching the opening and closing prices on Sunday. The euro, however, remains close to its monthly high despite Monday's decline. In comparison to seven days ago, the MLC has shown a significant increase of 18 pesos (+3.8%).

The Central Bank of Cuba's official exchange rate for Segment III is set at 615 CUP per dollar and 707 CUP per euro. This contrasts with the informal market rates, which are generated through automated analysis of currency buying and selling posts in Telegram and Facebook groups.