The price of the three main currencies in Cuba remains unchanged this Saturday, September 7. The U.S. dollar, euro, and Freely Convertible Currency (MLC) are stuck at the prices they reached weeks ago.
The USD is holding steady at 320 CUP, the EUR at 330 CUP, and the MLC at 275 CUP. These average selling prices confirm an unprecedented stability that has characterized the last few weeks.
Exchange Rates Today - 09/07/2024
As of 07:22 a.m. in Cuba, the exchange rates are as follows:
- USD to CUP according to elTOQUE: 320 CUP.
- EUR to CUP according to elTOQUE: 330 CUP.
- MLC to CUP according to elTOQUE: 275 CUP.
The U.S. dollar reached 320 CUP on August 3, and since then, monitoring of classified ads that average its value in the black market has shown no movement, according to the independent outlet elTOQUE.
The euro similarly reached 330 CUP on August 5 and has also seen no change in its average selling price since then.
The last to register changes was the MLC. However, since August 9, this virtual currency has been priced at 275 CUP.
The price stability in recent weeks contrasts sharply with the significant fluctuations seen in the first seven months of 2024, during which these currencies experienced both sharp increases and decreases.
The median buying and selling values published this Saturday by the independent outlet confirm a scenario of complete stagnation.
Currency Equivalents to Cuban Pesos (CUP)
Here are the current exchange rates for USD and EUR to CUP, as of September 7:
U.S. Dollar (USD) to Cuban Peso (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
Euros (EUR) to Cuban Peso (CUP):
- 1 EUR = 330 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
- 200 EUR = 66,000 CUP
- 500 EUR = 165,000 CUP
Frequently Asked Questions about Cuba's Currency Exchange Rates
To better understand the current situation with currency exchange rates in Cuba, here are some frequently asked questions and their answers.
Why have the exchange rates for USD, EUR, and MLC remained stable?
The stability in exchange rates is likely due to a lack of significant economic changes or interventions in the informal market, leading to an unprecedented period of price consistency.
What is the significance of the stability in Cuba's informal currency market?
The stability indicates a temporary halt in the typically volatile fluctuations, providing a brief respite for those dealing in these currencies, although it may also reflect deeper economic issues.
How are these exchange rates monitored?
These rates are monitored by independent outlets like elTOQUE, which track classified ads and other data points to average the informal market values.
What factors could cause future changes in the exchange rates?
Future changes could be triggered by shifts in economic policy, government interventions, or significant changes in supply and demand within the informal market.