Dollar and Euro Slip Further in Cuba's Informal Market
The value of both the US dollar and euro has continued to decline in Cuba's informal market. On Tuesday, the dollar was trading at 663 CUP, a drop of 1.5 pesos from yesterday, while the euro decreased to 758 CUP, down by 2.5 pesos.
In contrast, the Freely Convertible Currency (MLC) has seen a decrease of 5 pesos, standing at 459 CUP. When looking at weekly comparisons, the decline of these two major currencies becomes clear: the dollar is now 5 CUP less than the 668 CUP recorded a week ago, and the euro has lost 10 CUP from last week's 768 CUP.
The MLC, however, shows growth, rising by 16 CUP above the 443 CUP from a week prior. When examining longer-term changes over a 30-day period, the dollar has seen a reduction of 2.5 CUP, or -0.4%, while the euro has dropped by 7.5 CUP, or -1%. The MLC shows an increase of 3.5 CUP, equal to 0.8%.