The unstable black market in Cuba is having a significant impact on the daily lives of its citizens, driving up the cost of essential goods and restricting the availability of imported products. As of October 12, 2024, the exchange rates in the informal market show the US dollar (USD) trading at 325 Cuban pesos (CUP), the euro (EUR) at 340 CUP, and the MLC at 265 CUP. These rates highlight the ongoing devaluation of the Cuban peso against foreign currencies.
The constant fluctuation in currency values exacerbates economic uncertainty for many Cubans who rely on dollars or euros for everyday transactions, while their income in pesos continues to diminish in value.
Current Exchange Rates
On October 12, 2024, at 6:29 am, the exchange rates according to elTOQUE are as follows:
- USD to CUP: 325 CUP
- EUR to CUP: 340 CUP
- MLC to CUP: 265 CUP
Value of Banknotes in Cuban Pesos
The following are the conversion values for different denominations of US dollars and euros:
US Dollar (USD) Banknotes:
- 1 USD = 325 CUP
- 5 USD = 1,625 CUP
- 10 USD = 3,250 CUP
- 20 USD = 6,500 CUP
- 50 USD = 16,250 CUP
- 100 USD = 32,500 CUP
Euro (EUR) Banknotes:
- 5 EUR = 1,700 CUP
- 10 EUR = 3,400 CUP
- 20 EUR = 6,800 CUP
- 50 EUR = 17,000 CUP
- 100 EUR = 34,000 CUP
- 200 EUR = 68,000 CUP