Cuba's Informal Currency Market Holds Steady on August 1st

The informal currency market in Cuba opened on August 1st with a day of stability for both the US dollar and the euro. According to the CiberCuba Exchange Rate index, which analyzes thousands of currency transactions on Telegram and Facebook groups, the US dollar remained unchanged at 673 Cuban pesos (CUP), the same value as the previous day.

Seven days ago, the exchange rate was 674 CUP, a minimal difference of just one peso. However, compared to 30 days ago, the dollar has increased by 48 pesos, reaching its highest value in a month.

The euro also showed no changes, remaining at 785 CUP for the third day in a row. It's worth noting that this represents a significant trend, as 30 days ago, the euro was valued at 707 CUP, an increase of 78 pesos.

The MLC, a digital currency exclusively used by state-owned businesses, experienced a slight decline to 472 CUP, although its value is considered indicative due to low trading volume. The official exchange rate set by the Central Bank of Cuba remains below market values, with a gap of 58 pesos for the dollar and 78 pesos for the euro.