Dollar and Euro Rise in Cuban Informal Market

The informal currency market in Cuba closed on Wednesday, August 26, with the US dollar and euro experiencing upward pressure. The US dollar ended the day at 669 Cuban pesos (CUP), a 1.5-peso increase from the previous day's close of 668 CUP.

This marks an increase of 6.5 pesos for the dollar over the last week, corresponding to a 1% rise in value. The euro also gained ground, closing at 758 CUP, up 2.5 pesos from Tuesday's close of 755 CUP. This represents a 7.5-peso gain for the euro over the past week.

The MLC, however, recorded a decline of 13.5 pesos to 458 CUP, though its value is considered indicative due to low trading volume. The official exchange rate set by the Central Bank of Cuba (Segment III) remains significantly lower than market rates, with a gap of 33 pesos for the dollar and 16 pesos for the euro.