Dollar Rises to Record High in Informal Cuban Market

The Cuban peso continues to lose ground against major currencies on the informal market. The US dollar rose to 754 Cuban pesos (CUP) by 10 am local time, a 6-peso increase from the previous day's average value of 748 CUP.

This represents an upward trend that has been ongoing for weeks, with the dollar increasing by 32 pesos over the past seven days and a rise of 11.2% compared to 30 days ago.

The euro also saw a significant increase, rising to 863 CUP from 852 CUP the previous day, an increase of 1.3%. The MLC exchange rate, which is limited due to its restricted circulation, stood at around 495 CUP.