Forex
Dollar Hits Record High in Cuba as Euro Surpasses 760 Pesos
The Cuban informal currency market saw significant fluctuations this Saturday, August 29, with the US dollar reaching an all-time high of 675 Cuban pesos (CUP) and the euro at 763 CUP.
The dollar increased by 2.5 pesos from the previous session, a 0.4% rise, while the euro advanced by five pesos, a 0.7% gain.
The Multi-Legajos y Cheques (MLC), a state-run currency with limited circulation, is priced at around 467 CUP, though this figure should be considered indicative due to limited data collection.
The discrepancy between the official and informal exchange rates remains significant, with the Central Bank of Cuba's Segment III standing at 636 CUP per dollar and 737 CUP per euro, far lower than the prevailing rates in the informal market.