Dollar Hits 30-Day High in Cuba's Informal Market
The dollar has reached its highest value in Cuba's informal currency market in 30 days, closing at 683 Cuban pesos (CUP) on September 3rd. This marks a five-peso increase from the previous day and represents a nearly 2% rise over the past week. The euro also saw an appreciation, ending at 773 CUP, unchanged from the morning but three pesos higher than the previous day.
The sharp rise in foreign currency values has widened the gap between these rates and the official exchange rates set by the Central Bank of Cuba for Segment III. As a result, the informal dollar rate was 45 pesos above the official rate, while the euro showed a 34 CUP difference. For Cubans primarily earning in the national currency, this increase is particularly impactful.
The CiberCuba Exchange Rate system, which analyzes thousands of currency exchange postings in Telegram and Facebook groups, provides representative values that are updated several times daily. According to this system, the dollar's value has climbed by 13 pesos over the past week, while the euro has gained approximately 17 pesos.