For the first time in over two months, both the US dollar and the euro saw a price increase on Thursday in Cuba's informal market. In contrast, the value of the Freely Convertible Currency (MLC) has decreased. The American currency rose from 320 to 322 CUP, a price it briefly hit recently but didn't maintain for long.
The euro experienced a one-peso increase, reaching 336 CUP today. Meanwhile, the MLC, a virtual currency used by the Cuban government, dropped by two pesos, now valued at 268 CUP. The last occasion when both the US dollar and the euro simultaneously increased in the Cuban informal market was back on July 29.
Currency Acceptance Expands in Cuban Stores
This surge in the dollar and euro values follows a report by elTOQUE earlier this week, which revealed that certain stores on the island are now allowing purchases with cash in foreign currencies. Employees from the Cadena de Tiendas Caribe and Corporación Cimex S.A. confirmed that some retail outlets have begun accepting payments in dollars and euros, with others preparing to start accepting cash in foreign denominations soon.
Exchange Rates as of October 3, 2024 - 7:45 a.m. in Cuba
According to elTOQUE, the exchange rate for the US dollar is 322 CUP, while the euro stands at 336 CUP. The MLC is currently at 268 CUP.
Conversion Rates for US Dollars and Euros
Here are the equivalent values for various denominations of US dollars and euros in Cuban pesos (CUP) based on today's rates:
- US Dollar (USD) to Cuban Peso (CUP):
- 1 USD: 322 CUP
- 5 USD: 1,610 CUP
- 10 USD: 3,220 CUP
- 20 USD: 6,440 CUP
- 50 USD: 16,100 CUP
- 100 USD: 32,200 CUP
- Euros (EUR) to Cuban Peso (CUP):
- 1 EUR: 336 CUP
- 5 EUR: 1,680 CUP
- 10 EUR: 3,360 CUP
- 20 EUR: 6,720 CUP
- 50 EUR: 16,800 CUP
- 100 EUR: 33,600 CUP
- 200 EUR: 67,200 CUP
- 500 EUR: 168,000 CUP