As dawn broke on Monday, November 25, the exchange rates for foreign currencies in Cuba's informal market have remained unchanged. The persistent economic stagnation continues. The US dollar remains valued at 328 pesos, a rate it reached on November 12. For the past two weeks, the American currency has shown no increase in value within the Cuban black market.
Regarding the euro, it has been fixed at 345 pesos for an even longer duration, holding steady since November 4. This means the European currency marks three weeks at a consistent rate today. The Freely Convertible Currency (MLC) opens the day at 265 CUP. Last week, the MLC briefly increased by four pesos on Monday, only to revert back to 265 CUP the following day, a price it has predominantly maintained over recent months.
The latest report from the Cuban Monetary and Financial Observatory (OMFi) highlighted that the deepening economic crisis in Cuba has had a "paralyzing effect" on the informal foreign currency exchange market. "The worsening economic crisis in 2024 has paralyzed the informal currency market. The reduced volume of tourists, imports, and overall economic activities across all sectors have led to a contraction in the supply and demand for foreign currencies," stated Cuban economist Pavel Vidal, who also predicted that the current stagnation in the informal market is likely to persist in the short term.
Current Exchange Rates: November 25, 2024 - 9:52 a.m. in Cuba
According to elTOQUE, the exchange rates are as follows: USD to CUP is 328, EUR to CUP is 345, and MLC to CUP is 265. The recent price stability of the dollar, euro, and MLC, characterized by minor fluctuations, contrasts with the significant changes earlier in 2024, marked by sharp increases and decreases.
Conversion Rates for Available Denominations
Here are the conversions for each available denomination of US dollars and euros to Cuban pesos (CUP) based on today's exchange rates:
US Dollar (USD) to Cuban Peso (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) 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