Cuba's Informal Market Sees Stable Dollars, Slight Euro Gain

The informal currency market in Cuba has begun the week of August 3 with mixed results. The U.S. dollar remains steady, trading at 673 Cuban pesos (CUP), while the euro sees a modest increase to 787 CUP.

However, the MLC (Moneda Libremente Convertible) shows a slight rise in value, albeit with limited trading activity and caution advised due to low volume. The Cuban peso continues to depreciate against major currencies over the past month, marking a significant gap between official and informal exchange rates.

The demand for dollars remains high among Cubans seeking to protect their savings from inflation, which persists in the country. The official exchange rate set by the Central Bank of Cuba (Segment III) stands at 615 CUP per dollar, far below the practical rates found in the informal market.