Euro Surpasses Dollar in Cuba's Informal Market as Demand Rises

The informal currency exchange market in Cuba has seen slight changes as of July 27. The U.S. dollar remains at 673 Cuban pesos (CUP) with no change from the previous session, while the euro gained one peso to reach 790 CUP.

According to the CiberCuba Exchange Rate Index, which measures the informal market through analysis of thousands of foreign exchange posts on Telegram and Facebook groups, the dollar has seen a 1.1% increase over the past week and a 9.4% rise over the last 30 days.

The euro, on the other hand, has advanced by 2.9% in the past week and 11.3% over the last month. Its peak value for the past 30 days is currently at 790 CUP, surpassing the dollar's value of 673 CUP by 117 pesos.