Dollar and Euro Soar in Cuba's Informal Market

The U.S. dollar and euro continued their surge in Cuba's informal currency exchange market on Tuesday, reaching their highest levels in over a month.

The dollar traded at 720 Cuban pesos (CUP) by 8:00 p.m. local time, while the euro soared to 823 CUP, according to the average rates provided by the CiberCuba Exchange Rate.

This marks a continuation of the upward trend seen over the past week for both currencies. The dollar saw an increase of 2 pesos in just 24 hours, up from 718 CUP the previous day, while the euro rose by five pesos from its previous close of 818 CUP.

The informal exchange market continues to offer rates significantly higher than the official rates set by the Central Bank of Cuba for Segment III. The dollar and euro have reached their highest values in the last 30 days, with the euro remaining the most expensive currency in the informal market, trading 103 pesos higher than the dollar.

The freely convertible currency (MLC) recorded a reference value of 493 CUP on Tuesday, which represents a decline of 11.5 pesos from the previous day and approximately 44 pesos from a week ago.