Cuba's Informal Market Holds Firm as Euro Surges to New High

The informal market in Cuba closed on July 27 with the dollar remaining steady at 673 Cuban pesos, unchanged from the previous session. The euro gained ground, reaching its highest point in the last 30 days at 790 Cuban pesos.

This development confirms the dollar's resilience at high levels following weeks of upward trend. In contrast, the euro has accumulated an increase of 80 pesos (+11.3%) over the past month and solidifies its position as the most expensive currency in the parallel market.

The gap between the official exchange rate and the informal market remains significant, with the dollar being 72 pesos higher in the informal market and the euro 106 pesos higher. This disparity directly impacts internal prices and the purchasing power of Cubans in a scenario of sustained inflation and low state salaries.