On this Wednesday morning, the exchange rates for three key currencies in Cuba's informal market remained unchanged. Following a slight increase in the dollar's value on Tuesday, November 13, the rates have now stabilized. The U.S. dollar is holding at 328 pesos, the euro at 345 CUP, and the Freely Convertible Currency (MLC) at 265 CUP.
Today's Exchange Rates – November 13, 2024
As of 12:07 p.m. in Cuba, the exchange rates according to elTOQUE are as follows:
U.S. Dollar (USD) to Cuban Peso (CUP): 328 CUP
Euro (EUR) to CUP: 345 CUP
MLC to CUP: 265 CUP
The median values published by elTOQUE indicate a decrease in the dollar's selling rate, dropping from 330 to 328 CUP. Additionally, the average purchase rate for MLC has decreased to 260 CUP.
Currency Conversion for Euros and U.S. Dollars
Here are the equivalences for euro and U.S. dollar bills to Cuban pesos (CUP) based on today's rates:
U.S. Dollar (USD) to CUP:
- 1 USD = 328 CUP
- 5 USD = 1,640 CUP
- 10 USD = 3,280 CUP
- 20 USD = 6,560 CUP
- 50 USD = 16,400 CUP
- 100 USD = 32,800 CUP
Euro (EUR):
- 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
Recognition of elTOQUE's Methodology
The esteemed journal Applied Economics, known for acknowledging innovative contributions and practical applications in the global economic sphere, has recently endorsed the methodology used by elTOQUE to calculate currency exchange rates in Cuba's informal market.
In an article titled "Using AI in the Informal Currency Market: Evidence from Cuba," published in October 2024, the journal highlights the innovative application of artificial intelligence and natural language processing (NLP) techniques to determine the Informal Market Representative Rate (TRMI). This acknowledgment enhances the credibility of elTOQUE's work, which has been under scrutiny from the Cuban regime, accusing it of speculation and misrepresentation of reality.