The United States Dollar (USD) remains stable this Monday in Cuba's black market, trading at 320 CUP. Similarly, the Euro maintained its exchange rate in the irregular Cuban market at 330 CUP. Meanwhile, the Freely Convertible Currency (MLC) is being traded at 275 CUP today. These three primary currencies have shown over three weeks of stability in the island's informal market.
Exchange Rates Today - 02/09/2024 - 11:34am in Cuba
USD to CUP Exchange Rate according to elTOQUE: 320 CUP
EUR to CUP Exchange Rate according to elTOQUE: 330 CUP
MLC to CUP Exchange Rate according to elTOQUE: 275 CUP
Dollar and Euro Bills According to Today's Exchange Rate
Dollar Bills (USD) to CUP:
- 1 USD = 320 CUP
- 5 USD = 1,600 CUP
- 10 USD = 3,200 CUP
- 20 USD = 6,400 CUP
- 50 USD = 16,000 CUP
- 100 USD = 32,000 CUP
Euro Bills (EUR) to CUP:
- 5 EUR = 1,650 CUP
- 10 EUR = 3,300 CUP
- 20 EUR = 6,600 CUP
- 50 EUR = 16,500 CUP
- 100 EUR = 33,000 CUP
Dollar Prices in Cuba: Stability in the Informal Market
The most demanded currencies in the Cuban informal market, such as the dollar, euro, and MLC, have maintained another day of stability, without the usual price fluctuations that used to characterize them. Some might interpret this as a sign that the devaluation of the Cuban peso has halted. However, several economists disagree, arguing that many other conditions are still required to consider that the national currency has stopped losing value against foreign currencies.
The MLC was the last of these currencies to experience changes in its value. During August 8 and 9, its average selling price dropped twice consecutively. Nevertheless, it has stabilized at 275 CUP since August 10.
FAQs on Exchange Rates in Cuba's Black Market
Given the persistent economic instability in Cuba, many questions arise regarding the current exchange rates for major currencies in the black market. Below are some frequently asked questions and their answers to provide clarity on this issue.
What is the current exchange rate for the USD in Cuba's black market?
As of today, the exchange rate for the USD in Cuba's black market is 320 CUP.
How much is the Euro trading for in the Cuban informal market?
The Euro is currently trading at 330 CUP in the Cuban informal market.
Has the MLC exchange rate shown any recent changes?
The MLC exchange rate has been stable at 275 CUP since August 10, after experiencing drops on August 8 and 9.
What factors could influence the stability of these exchange rates?
Several economists believe that multiple conditions, such as economic reforms, international trade policies, and domestic financial stability, are still required to ensure long-term stability of these exchange rates.