Cuba's Informal Currency Market Sees Stability for USD and EUR, MLC on the Rise

The informal currency exchange market in Cuba has shown signs of stability, with both the U.S. dollar and euro maintaining their previous rates. The dollar remained steady at 665 Cuban pesos, while the euro held firm at 760 pesos.

However, the MLC (Freely Convertible Currency) saw a slight increase, rising to 457 pesos from 450, marking a 1.4% rise. This follows a period where both the dollar and euro experienced declines.

The official exchange rates set by the Central Bank of Cuba are significantly lower than those in the informal market, with the dollar priced at 624 CUP and the euro at 720 CUP as of August 14, 2023.