This Friday marks a week of complete stability for the three major currencies in Cuba's informal market, with no fluctuations in street-level selling prices. Since the increase in value on November 4 for both the dollar and the euro, there have been no further changes. This steadiness in currency rates starkly contrasts with the ongoing instability in the country, which has recently been hit by a string of unfortunate events, including two hurricanes, two outages of the National Electric System (SEN), and two earthquakes this past Sunday.
These significant disruptions, which have complicated access to electricity and communications, might explain the lack of response in the currency market to Cuba's ever-challenging daily reality. The independent media outlet elTOQUE tracks these price fluctuations based on classified ads for buying and selling the island's three main currencies on social media.
As of Monday morning, the euro held steady at 345 CUP, while the dollar remained at 327 CUP. The Freely Convertible Currency (MLC) also stayed constant at 265 CUP. According to elTOQUE's data on November 11, 2024, at 11:33 a.m., the exchange rates for these currencies were as follows:
Exchange Rates:
- USD to CUP: 327 CUP
- EUR to CUP: 345 CUP
- MLC to CUP: 265 CUP
However, elTOQUE's median values indicate a potential rise in the informal selling price of the dollar to 330 CUP, which might soon be realized. The euro's average purchase price has also increased to 345 CUP, matching its selling price.
Currency Conversion Values
United States Dollar (USD) to Cuban Peso (CUP), based on the November 11 exchange rates:
- 1 USD = 327 CUP
- 5 USD = 1,635 CUP
- 10 USD = 3,270 CUP
- 20 USD = 6,540 CUP
- 50 USD = 16,350 CUP
- 100 USD = 32,700 CUP
Euro (EUR) to Cuban Peso (CUP):
- 1 EUR = 345 CUP
- 5 EUR = 1,725 CUP
- 10 EUR = 3,450 CUP
- 20 EUR = 6,900 CUP
- 50 EUR = 17,250 CUP
- 100 EUR = 34,500 CUP
In conclusion, while the Cuban currency market remains stable for now, the potential for shifts looms, reflecting the complex and unpredictable nature of economic circumstances in the country.