Cuba's Informal Currency Market Surges as Dollar Nears 700 Pesos

The informal currency market in Cuba has seen significant changes over the past week. The U.S. dollar has risen by 1 peso to reach 688 Cuban pesos, while the euro has shown a more substantial increase, reaching 781 CUP.

This upward trend is not new and has persisted for several weeks. In fact, the dollar's value has increased by 10 pesos over the past week alone, with an even greater gain of 20 pesos in the last 30 days.

The euro, on the other hand, has seen a more significant movement over the same period, rising by 8 pesos from 773 CUP to its current value. It's worth noting that while the euro is currently at its highest level in 30 days, it remains significantly above the dollar in Cuba.

The MLC (Freely Convertible Currency) has also been experiencing fluctuations, with its value hovering around 466 CUP. However, its behavior is considered unstable due to its wide fluctuation range over the last 30 days.