Dollar Rises, Euro Falls in Cuba's Informal Currency Market
The informal currency market in Cuba has seen significant movements this Thursday, August 27. The US dollar rose to 670 Cuban pesos (CUP), a gain of one peso from the previous day's close and an increase of 7 pesos over the week.
The euro, which had been trading at elevated levels for several days, fell to 756 CUP, down from 758 CUP the previous day. Despite this decline, the euro remains 86 pesos above the dollar and has a weekly gain of 6 CUP compared to its value a week ago.
The freely convertible currency (MLC) saw the most notable movement, rising by around 11 pesos in just 24 hours to an average value of approximately 469 CUP. However, this increase should be interpreted with caution due to low trading volume detected at the close of the session.