The value of the U.S. dollar (USD) dropped again in Cuba this Thursday, while the freely convertible currency (MLC) saw a significant increase in the informal market after a period of stability. The USD is now trading at 360 pesos in Cuba's irregular currency exchange market, a decrease of five CUP since June 26.
The euro has maintained its stable value for the second consecutive day, trading at 375 CUP in the informal Cuban market this morning. However, the MLC, which had been stable at 300 CUP for several weeks, showed a slight increase of five pesos this Thursday, bringing its value to 305 CUP as of the morning of June 27.
Current Exchange Rates as of June 27, 2024 - 7:43 AM in Cuba
According to elTOQUE, the current exchange rates are as follows:
USD to CUP: 360 CUP
EUR to CUP: 375 CUP
MLC to CUP: 305 CUP
Foreign Currency Conversion Rates
Here are the conversion rates for available foreign currency bills:
Dollar (USD)
1 USD: 360 CUP
5 USD: 1,800 CUP
10 USD: 3,600 CUP
20 USD: 7,200 CUP
50 USD: 18,000 CUP
100 USD: 36,000 CUP
Euro (EUR)
5 EUR: 1,875 CUP
10 EUR: 3,750 CUP
20 EUR: 7,500 CUP
50 EUR: 18,750 CUP
100 EUR: 37,500 CUP
These exchange rates and conversions are based on the current rates provided by elTOQUE.
Understanding Cuba's Informal Currency Market
To provide further clarity on the fluctuations in the informal currency market in Cuba, here are some frequently asked questions and their answers.
Why is the USD rate declining in the informal market?
The decline in the USD rate could be due to various factors, including changes in demand and supply dynamics within the Cuban informal market, as well as broader economic conditions.
What causes the MLC to increase in value?
The MLC's value increase might be driven by heightened demand for this currency, possibly due to its utility in purchasing goods and services that are otherwise hard to obtain with the CUP.
How stable is the euro in Cuba's informal market?
The euro has shown stability in the informal market, maintaining its value consistently over recent days, which could indicate a balanced demand and supply situation.