Dollar Remains Stable as Euro Loses Ground in Cuban Informal Market
The informal market in Cuba saw little change on Saturday, with the dollar remaining stable and the euro experiencing a slight decline. The U.S. currency has an average value of 673 CUP, while the euro stands at 782 CUP. Meanwhile, the Freely Convertible Currency (MLC) rose slightly to 449 CUP, although this figure should be viewed with caution due to the low volume of transactions.
The stability of the dollar is not a one-day phenomenon, as it has remained unchanged for a week. In comparison, the euro lost 3 CUP, equivalent to 0.4%, over the same period. The MLC, on the other hand, dropped by 23 CUP below its value from seven days ago.
The official exchange rates set by the Central Bank of Cuba also show a difference in values compared to the informal market. The dollar is valued at 621 CUP, while the euro stands at 717 CUP. The MLC does not have a comparable official rate.