Forex
Dollar and Euro Rise in Informal Cuban Market Amid Inflation and Currency Shortages
The informal currency market in Cuba has seen the dollar and euro rise in value compared to the previous day, according to the CiberCuba Exchange Rate.
The greenback climbed four pesos to approximately 692 Cuban pesos, while the euro increased by one peso to 785 CUP.
The Cuban Peso (CUP) has seen a decline in its value against both currencies, with the dollar up 1.3% and the euro up 1.2% compared to seven days ago.
The gap between the official exchange rate set by the Central Bank of Cuba and the informal market rates remains significant, with the dollar difference exceeding 40 pesos and the euro difference around 28 pesos.