Dollar and Euro Plummet in Cuba's Informal Market
The dollar and euro continue to decline in Cuba's informal market. According to CiberCuba, on Tuesday, the USD traded at 663 Cuban Pesos (CUP), down 1.5 pesos from Monday. The euro dropped to 758 CUP, a loss of 2.5 pesos compared to yesterday.
The Freely Convertible Currency (MLC) saw a more significant decline, falling to 459 CUP and representing a drop of 5 pesos. In the weekly comparison, both currencies showed a decline: the dollar decreased by 5 CUP (-0.7%) from last week's 668 CUP, while the euro dropped by 10 CUP (-1.3%) from its previous value of 768 CUP.
In contrast, the MLC increased by 16 CUP (3.6%) in the same time frame. When looking at the 30-day comparison, the dollar shows a decrease of 2.5 CUP (-0.4%), while the euro records a drop of 7.5 CUP (-1%).
The official exchange rate for the population is set by the Central Bank of Cuba at 631 CUP per dollar and 731 CUP per euro.