The average selling value of the euro and U.S. dollar in Cuba's informal market has decreased this Tuesday, marking the second consecutive day of decline for the American currency. The dollar opened this Tuesday valued at 353 pesos, five pesos less than the previous day, when it had already dropped from 360 to 358.
In the case of the European currency, the decline is also five units, falling from 370 to 365 CUP. However, the price drop for both currencies is far from the volatility seen a few weeks ago, when they could drop 20 to 30 pesos in a single day. The Freely Convertible Currency (MLC), on the other hand, remains at its previous day's value of 305 CUP.
Current Exchange Rates on July 2, 2024 - 7:10 a.m. in Cuba:
USD to CUP exchange rate according to elTOQUE: 353 CUP.
EUR to CUP exchange rate according to elTOQUE: 365 CUP.
MLC to CUP exchange rate according to elTOQUE: 305 CUP.
The informal exchange rate in Cuba provided here is not officially recognized or backed by any financial or governmental entity.
Currency Conversion Equivalents
U.S. Dollar (USD) to Cuban Peso (CUP), according to today's exchange rates:
- 1 USD: 353 CUP
- 5 USD: 1,765 CUP
- 10 USD: 3,530 CUP
- 20 USD: 7,060 CUP
- 50 USD: 17,650 CUP
- 100 USD: 35,300 CUP
Euros (EUR) to Cuban Peso (CUP) equivalences:
- 1 EUR: 365 CUP
- 5 EUR: 1,825 CUP
- 10 EUR: 3,650 CUP
- 20 EUR: 7,300 CUP
- 50 EUR: 18,250 CUP
- 100 EUR: 36,500 CUP
In recent days, the informal price behavior of the three main reference currencies in Cuba has shown relative stability, at least compared to the abrupt movements of the second half of May and the first half of June, when sharp increases and drops were recorded.
Since June 19, when the U.S. dollar reached 360 Cuban pesos (CUP), the value of the American currency has fluctuated slightly and sporadically. The same has occurred with the euro and the MLC.
FAQs on Cuba's Informal Exchange Rates
Here are some frequently asked questions about the current situation of informal exchange rates for dollars and euros in Cuba.
Why are the exchange rates for dollars and euros falling in Cuba?
The falling exchange rates can be attributed to a variety of factors, including changes in supply and demand within the informal market, economic policies, and external economic pressures.
Is the current exchange rate stable compared to previous months?
Yes, recent trends show that the exchange rates for the dollar and euro have been relatively stable, especially when compared to the significant fluctuations seen in late May and early June.
Are these exchange rates officially recognized?
No, the exchange rates provided here are part of the informal market in Cuba and are not officially recognized or backed by any financial or governmental entity.