Dollar and Euro Prices Stable Amid Informal Market Fluctuations
The informal currency market in Cuba showed mixed results on Tuesday, September 15. The U.S. dollar maintained its value compared to the previous session, trading at 698 Cuban pesos (CUP) and unchanged from the start of the day. However, this marks a significant increase over the past week, rising 13 pesos from 685 pesos just seven days ago.
The euro, on the other hand, experienced a modest gain, increasing to 795 CUP from 794 CUP in the previous session. This represents a one-peso rise and a notable increase of 17.5 pesos over the past week. Over the month, the euro has climbed by 35 pesos.
The MLC (Moneda Libremente Convertible) showed an upward trend, but its valuation is limited due to low transaction volume and its use as a virtual currency primarily in state-run stores. The official exchange rate from the Central Bank of Cuba remains lower than the informal market rates, failing to reflect the reality of the parallel market.