The dollar continues to rise in Cuba's informal market due to the lack of liquidity in foreign currency from the State.

The US dollar continues to rise in the informal market in Cuba this Saturday due to the lack of liquidity in foreign currency of the Cuban State. The price of the US dollar continues to climb in the informal foreign exchange market in Cuba, reaching today 380 CUP per unit, with transactions via Zelle even being quoted at 390 CUPThe value of the US dollar rose two pesos compared to yesterday, according to the daily monitoring of the media. Touch. 

This upward trend is largely due to the persistent lack of liquidity in foreign currency by the Cuban State, which generates a growing dependence on the parallel market to satisfy demand.

On Saturday, Central Bank of Cuba (BCC) maintains the official rate of USD at 120 CUP for the population, a figure that is far below the real values ​​in the informal market, where the dollar is traded at more than 300% above its official value.

Dollar in Cuba's informal market today

This enormous gap reflects the imbalance between supply and demand for hard currency in the country, in addition to an exchange control policy that no longer manages to curb speculation. Along with the dollar, other currencies also have high prices on the informal market:

• Euro: 410 CUP (official: 138.19 CUP)

• MLC: 260 CUP

• Canadian dollar: 250 CUP (official: 87.37 CUP)

• Mexican peso: 18.50 CUP (official: 6.29 CUP)

This phenomenon reflects a general pattern of devaluation of the Cuban peso against foreign currencies, driven by the economic distrust, inflation and the lack of foreign currency in state channels.

The increasing use of Zelle has made this platform a key reference in determining the real exchange rate on the street. Today, the dollar sent through this channel is quoted at 390 CUP, consolidating itself as the preferred method for accessing foreign currency quickly and relatively safely.

The rise of the dollar on the informal market not only reflects a critical economic reality, but also the Cuban state's inability to guarantee a stable supply of foreign currency.

Without a policy of structural reforms that restores confidence and reactivates the flow of foreign currency, the upward trend in the value of the dollar and other currencies appears far from reversed.