Cuba's Informal Currency Market Sees Mixed Trends Amid Dollar Rise

The informal currency market in Cuba has seen mixed trends this week. The U.S. dollar remained unchanged from Monday's previous day, averaging 683 Cuban pesos (CUP). In contrast, the euro experienced a slight increase, rising by one peso to reach 776 CUP.

However, the MLC (Moneda Libremente Convertible) showed a decline, trading around 422 pesos. Due to limited transaction volume, this figure should be taken as indicative only.

The U.S. dollar has been on an upward trend over the past week and month, with its informal market value increasing by five pesos from last Monday's 678 CUP and ten pesos from August's 673 CUP. The euro also saw a significant rise, climbing from 765 CUP to 776 CUP over the same period.

The gap between official and informal exchange rates remains substantial, with the Central Bank of Cuba's Segment III rate significantly lower than those in the parallel market. This disparity is largely due to the high demand for foreign currencies among the Cuban population.