This Friday, foreign currencies have maintained stable average selling rates in Cuba's informal market. As of 2:00 PM on November 22, the US dollar, euro, and Freely Convertible Currency (MLC) remain at their recent values. The American currency holds at 328 pesos, while the euro is valued at 345 pesos.
The MLC, after losing four pesos on Tuesday following a gain on Monday, has consistently remained at 265 CUP for the third straight day, a price trend seen predominantly over recent months. This period of price stability for dollars, euros, and MLC—marked by minor fluctuations—stands in contrast to the significant volatility experienced in the first seven months of 2024, characterized by sharp price increases and drops.
The latest report from the Observatory of Currencies and Finances of Cuba (OMFi) indicated that the worsening economic crisis in Cuba has had a "paralyzing effect" on the informal currency trading market. "The intensifying economic crisis in 2024 has stalled the informal currency market. Reduced tourist numbers, lower import activity, and an overall slump in economic activities across all sectors have led to a contraction in currency supply and demand," stated Cuban economist Pavel Vidal, who predicts that the current situation will persist in the short term.
Since August, the US dollar has experienced its most significant stagnation since independent outlet El Toque began its monitoring, staying fixed at 320 pesos for 59 days—nearly two months. Recent projections from OMFi suggest that by November 30, the month could end with exchange rates ranging between 319 and 335 CUP for the dollar, between 336 and 351 CUP for the euro, and between 270 and 281 pesos for the MLC, depending on whether it aligns with minimum or maximum scenarios.
Current Exchange Rates as of November 22, 2024, 2:44 PM in Cuba
According to El Toque, the exchange rate for the US Dollar (USD) is 328 CUP. The Euro (EUR) is at 345 CUP, and the MLC is at 265 CUP.
Cuban Peso Equivalents for Euro and US Dollar Bills
For US Dollars (USD) to Cuban Pesos (CUP), based on the exchange rates of November 22:
- 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
For Euros (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