Cuba's Informal Market Sees Dollar and Euro Surge Amid MLC Decline
The informal market in Cuba has seen significant fluctuations in exchange rates for the US dollar and euro. As of Thursday morning, local time, the US dollar is quoted at 670 Cuban pesos (CUP), a two- peso increase from the previous day's rate of 668 CUP. This marks a seven-peso gain for the dollar over the past week, rising from its previous rate of 663 CUP.
The euro has also seen an increase, reaching 760 CUP at 10:00 a.m. local time, two pesos higher than the previous day's rate. In comparison to the dollar, the euro has risen by 10 pesos over the past week, trading at 750 CUP seven days ago.
The MLC (Freely Convertible Currency) has seen a decline, dropping to around 458 CUP from its previous rate of 471 CUP. This represents a decrease of 13 pesos compared to the previous day's rate.