Informal Currency Market in Cuba Opens with Mixed Signals
The informal currency market in Cuba opened this Monday, August 10, with mixed signals. The US dollar remains unchanged from the previous day's rate, trading at an average of 673 Cuban pesos (CUP) for a buying price of 670 CUP and selling price of 675 CUP.
However, the euro slipped back for the second consecutive day, falling to an average value of 776 CUP with a buying price of 766 CUP and selling price of 785 CUP. This represents a decline of two pesos compared to the previous session.
The freely convertible currency (MLC) saw a slight increase, rising by eight pesos to an average value of 458 CUP, but its data is marked with a notice of few records during this time frame, making its pricing indicative rather than definitive.
Compared to the official exchange rate of the Central Bank of Cuba, which remains at 621 CUP per dollar and 717 CUP per euro, the informal market values are significantly higher. The difference between the official and unofficial price exceeds 50 pesos for the dollar and hovers around 59 pesos for the euro.