The price of foreign currency remains unchanged this Sunday in Cuba's informal market, as reflected by the monitoring done by elToque. The independent media outlet has not yet analyzed the unusual stability of the dollar, euro, and Moneda Libremente Convertible (MLC) in recent weeks.
The dollar remains valued at 320 CUP, the euro at 330 CUP, and the MLC at 275 CUP. "All the food is very expensive, and they don't want to raise the dollar," lamented one of many social media users dissatisfied with the currency's stagnation. Others view this as a positive sign, while a third group is indifferent as they have no access to these currencies.
Exchange Rates as of 08/09/2024 - 07:22 a.m. in Cuba
According to elToque, today's exchange rates are as follows:
- USD to CUP: 320 CUP
- EUR to CUP: 330 CUP
- MLC to CUP: 275 CUP
The median values of buying and selling rates published this Saturday by the independent media confirm a state of absolute stagnation. The U.S. dollar reached 320 CUP on August 3, and since then, the monitoring of classified ads that average its value in the black market has shown no movement, according to elToque.
The euro reached 330 CUP on August 5, and its average selling value has not changed since then. The last to register changes was the MLC. However, since August 9, the virtual currency has been priced at 275 CUP.
This price stability contrasts sharply with the dramatic fluctuations in the first seven months of 2024, characterized by volatile and abrupt price increases and decreases.
Currency Conversion for USD and EUR
Here are the equivalences of each available bill of U.S. dollars and euros to Cuban pesos (CUP) as of September 7:
- 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
- 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
FAQs on Current Exchange Rates in Cuba
Below are some frequently asked questions regarding the current exchange rates in Cuba, focusing on the stability and valuation of different currencies.
Why are the exchange rates for USD, EUR, and MLC stable in Cuba?
The stability is unusual and not fully analyzed, but it contrasts sharply with the volatile changes experienced in the first seven months of 2024.
What are the current exchange rates for USD, EUR, and MLC in Cuba?
As of the latest update, the exchange rates are 320 CUP for USD, 330 CUP for EUR, and 275 CUP for MLC.
How do these stable rates impact the Cuban economy?
Opinions are divided; some view it positively, while others are frustrated due to the high cost of living and minimal currency movement.