Cuba's Informal Currency Market Sees Dollar and Euro Surge

This Saturday, July 25, marked another day of fluctuating exchange rates in Cuba's informal currency market. The US dollar and euro saw significant increases, while the Cuban peso continued to lose ground against foreign currencies.

The US dollar is currently trading at 674 Cuban pesos (CUP), up 1.5 pesos from the previous day. This represents an increase of 11.5 pesos compared to seven days ago, a rise of 1.7%. From a monthly perspective, the dollar has risen by 4 pesos since it was priced around 670 CUP.

The euro, on the other hand, opened at 785 CUP, up 6.5 pesos from the previous day and marking its highest point in the last 30 days. This represents a 3.6% increase compared to seven days ago, making it the currency with the highest upward momentum of the week.

The MLC, or Moneda Libremente Convertible (convertible freely convertible money), showed a decline compared to the previous day but increased by 40 pesos from seven days ago, a rise of 9.2%. The low volume of transactions supporting the MLC quotation makes its value indicative only.

The gap between the informal market and the official exchange rate set by the Central Bank of Cuba remains significant, with the dollar trading at 73 pesos more than its official rate and the euro at 101 pesos more.