The exchange rates for foreign currencies in Cuba's informal market show slight fluctuations this Monday, with a minor drop in the price of one of the three most traded currencies in the country. The Freely Convertible Currency (MLC) is now trading at 273 CUP, which is two pesos less than the previous day. While the change is slight, it disrupts the stability that the informal currency market in Cuba had maintained for over a month.
The U.S. Dollar (USD) continues to be exchanged at 320 CUP, and the European Euro (EUR) remains at 330 CUP, making it the most valuable currency on the island for several weeks.
Today's Exchange Rates as of 09/09/2024 - 6:43 AM in Cuba:
According to elTOQUE:
- USD to CUP: 320 CUP
- EUR to CUP: 330 CUP
- MLC to CUP: 273 CUP
Breakdown of Common Dollar and Euro Bills in CUP:
Dollar Bills (USD):
- 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):
- 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
Since early August, the exchange rates for the dollar and the euro have remained stable at 320 CUP and 330 CUP, respectively, according to black market monitoring by elTOQUE. The Freely Convertible Currency (MLC) was the last to register a change, set at 275 CUP since August 9. This recent stability contrasts with the significant fluctuations seen during the first seven months of 2024, marked by abrupt rises and falls in currency prices.
Frequently Asked Questions about Cuba's Black Market Exchange Rates
Here are some common questions and answers regarding the current state of exchange rates in Cuba's black market.
Why is the MLC rate lower today?
The MLC rate has dropped by two pesos due to minor fluctuations in the informal market, breaking a period of more than a month of stability.
What are the current exchange rates for USD and EUR?
The USD is currently exchanged at 320 CUP, while the EUR is traded at 330 CUP.
How have exchange rates fluctuated in 2024?
The first seven months of 2024 saw significant fluctuations with abrupt rises and falls in currency prices, contrasting with the recent stability observed since August.