Informal Currency Market in Cuba Sees Price Increases for Dollar and Euro
The informal currency market in Cuba opened on October 2 with an increase in price for the three reference currencies. At 10:00 a.m. local time, the US dollar was trading at an average of 774 Cuban pesos (CUP), while the euro stood at 875 CUP and the MLC at 504 CUP. The dollar had risen by 11 pesos compared to the previous day, marking its highest recorded rate in the last 30 days.
The upward trend for the dollar is not an isolated incident. Over the past week, it has risen by 44 pesos, representing a 6% increase from seven days ago. In comparison, 30 days ago, the exchange rate was 678 CUP, indicating a difference of 96 pesos.
The euro also saw a price increase, reaching its highest point in the last 30 days at 875 CUP. It has risen by 8 pesos from the previous day and 43 pesos over the past week, representing a 5.2% increase from seven days ago.