Cuba's Informal Currency Market Sees Dollar Rise, Euro Holds Steady

The informal currency market in Cuba has seen another day of increased demand for US dollars and euros. As of 10:00 a.m. local time, the greenback is trading at 668 Cuban pesos (CUP), up two pesos from yesterday's rate. The euro remains unchanged at 755 CUP.

The dollar's upward trend continues, with a cumulative rise of 5 pesos (+0.8%) over the past week. This increase reflects the ongoing inflation and low state salaries in Cuba, driving demand for foreign currencies among the population.

Despite its stability, the euro remains the most expensive currency in the Cuban parallel market, surpassing the dollar by 87 pesos. The MLC, a lesser-used currency, is hovering around 468 CUP due to reduced volume of transactions and limited circulation.