The price of foreign currencies remains unchanged this Friday in Cuba's informal market, as reported by the independent outlet elToque. Despite the median values on September 19 showing a rise in the average selling price of the U.S. dollar, the currency holds steady on September 20 at the same rate it has maintained since August 16.
The dollar remains valued at 320 CUP, the euro at 330 CUP, and the Freely Convertible Currency (MLC) at 270 CUP, the latter having reached this value on September 14.
Exchange Rates for September 20, 2024 - 7:22 a.m. in Cuba
USD to CUP rate according to elToque: 320 CUP.
EUR to CUP rate according to elToque: 330 CUP.
MLC to CUP rate according to elToque: 270 CUP.
The median values for buying and selling published this Friday by the independent outlet show static rates for euros and dollars, both in buying and selling, but a two-peso drop in the median buying price of MLC, from 270 to 268 CUP.
Despite the stability in the informal currency market, prices remain high for the population, reflecting the economic crisis gripping Cuba, where inflation and the scarcity of foreign currencies severely impact the purchasing power of citizens.
The U.S. dollar reached 320 CUP on August 3, and since then, the monitoring of classified ads averaging its value in the black market has shown no movement, according to elToque. The euro, on the other hand, has been stable at 330 CUP since August 5, also without any changes in its average selling price.
The recent price stability contrasts with the significant fluctuations of the first seven months of 2024, characterized by sharp and abrupt increases and decreases. This unusual steadiness in the informal currency market in recent weeks has surprised many Cubans, who are trying to understand the phenomenon, as elToque remains silent on the matter.
Currency Equivalents in Cuban Pesos (CUP)
U.S. Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on September 20:
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):
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.