Dollar Surges to New High in Cuba's Informal Market

The informal market in Cuba saw significant fluctuations on Monday, September 14, as the Cuban peso weakened against major currencies. The US dollar rose to a new high of 698 pesos (CUP) in the informal currency market, while the euro reached 794 CUP, just one peso below its highest value in the last 30 days.

The dollar gained four pesos in just one day and has increased by 14.5 pesos over the past week, widening the gap between the official exchange rate of the Central Bank of Cuba for Segment III and the informal market. The euro also maintained its upward trend, closing at 794 CUP, with a gain of 16.5 pesos over the same period.

The difference between the two main currencies widens to 96 pesos in favor of the euro. This increase keeps the gap open between the informal market and the official exchange rate, which is set at 655 CUP per dollar and 760 CUP per euro for Segment III.