Cuba's Informal Currency Market Sees US Dollar and Euro Rise to New Highs
The informal currency market in Cuba has seen significant increases for both the US dollar and euro on Friday, August 28. The US dollar rose to an average value of 673 Cuban pesos (CUP), a 2.5 peso increase from Thursday's closing price, while the euro climbed to 758 CUP, up 1.5 pesos from the previous day.
The rise in both currencies confirms the upward pressure affecting the informal market over recent days. The US dollar has risen by 10 pesos from last week's average of 663 CUP, representing a 1.5% increase, while the euro has increased by 9.5 pesos from 748 CUP seven days ago.
The MLC, with limited available data and only indicative value, closed around 470 CUP on average, but this figure should be taken cautiously due to methodological adjustments. The gap between the official exchange rate of the Central Bank of Cuba (Segment III) and the informal market rates has widened to 39 pesos for the dollar and 19 pesos for the euro.