Cuba's Informal Currency Market Sees Mixed Day with Dollar Stagnant

The informal currency market in Cuba experienced a mixed day on Tuesday, July 28. The US dollar remained stagnant for the second consecutive day, closing at an average of 673 Cuban pesos (CUP), with buying and selling rates of 670 CUP and 675 CUP respectively. This stability follows weeks of sustained gains.

The euro, however, declined by five pesos compared to the previous day, closing at 785 CUP on average, with a buying rate of 780 CUP and a selling rate of 790 CUP. Despite this setback, the euro maintains its advantage over the dollar and has increased by ten pesos from 775 CUP recorded seven days ago.

The Cuban peso (MLC) showed a slight increase of two pesos compared to the previous day, closing at around 473 CUP on average, with buying and selling rates of 438 CUP and 508 CUP respectively. However, its use is limited due to lack of physical existence and restricted circulation in state-run stores.