This Monday, the US Dollar (USD) has seen a decrease in its average selling price in the informal Cuban market. As of 7 a.m. on July 1, the American currency is valued at 358 CUP, which is two pesos less than the previous day. Meanwhile, the Euro and the Freely Convertible Currency (MLC) have maintained their values from the previous day, standing at 370 pesos for the European currency and 305 CUP for the MLC.
In the past few days, the informal price behavior of the three main reference currencies in Cuba has shown relative stability, especially when compared to the abrupt movements seen in the second half of May and the first part of June, where there were successive increases and drops of up to 20 pesos in a single day. Since June 19, when the USD reached 360 Cuban pesos (CUP), the value of the American currency has experienced slight and sporadic fluctuations. The same trend has been observed with the Euro and the MLC.
Current Exchange Rates in Cuba - 07/01/2024
Exchange rates as of 7:19 a.m. in Cuba:
Exchange rate for the US Dollar (USD) to CUP according to elTOQUE: 358 CUP.
Exchange rate for the Euro (EUR) to CUP according to elTOQUE: 370 CUP.
Exchange rate for the MLC to CUP according to elTOQUE: 305 CUP.
Note that the informal exchange rate in Cuba provided here is not officially recognized or backed by any financial or governmental entity.
Currency Exchange Equivalencies
Equivalencies of each available denomination of Euros and US Dollars to Cuban pesos (CUP), as per Monday, July 1 exchange rates:
US Dollar (USD) to Cuban Peso (CUP):
1 USD = 358 CUP
5 USD = 1,790 CUP
10 USD = 3,580 CUP
20 USD = 7,160 CUP
50 USD = 17,900 CUP
100 USD = 35,800 CUP
Euros (EUR):
5 EUR = 1,850 CUP
10 EUR = 3,700 CUP
20 EUR = 7,400 CUP
50 EUR = 18,500 CUP
100 EUR = 37,000 CUP
Understanding Currency Fluctuations in Cuba
Here are some frequently asked questions about the currency exchange rates in Cuba, aimed at providing a better understanding of the subject.
Why is the Cuban informal market exchange rate not officially recognized?
The informal market exchange rate in Cuba is not officially recognized because it operates outside the formal financial system and lacks governmental backing or regulation.
What factors influence the informal exchange rates in Cuba?
The informal exchange rates in Cuba are influenced by several factors, including supply and demand dynamics, economic policies, and external economic conditions.
How often do these informal exchange rates change?
Informal exchange rates in Cuba can change daily, with fluctuations depending on market conditions and other influencing factors.