On November 29, 2024, the value of the United States dollar (USD) reached 328 CUP, a rise from 326 CUP the previous Thursday, marking a 2 CUP increase. This upward trend highlights the growing demand for the dollar. Meanwhile, the euro (EUR) also experienced a slight increase, moving from 341 CUP yesterday to 343 CUP today, solidifying its status as the most expensive currency on the Cuban market. This 2 CUP uptick reinforces its appeal as a popular choice for those seeking stability in international transactions.
The MLC, a virtual currency used in state-run stores, remained unchanged at 265 CUP, suggesting a lesser degree of volatility compared to the Cuban peso. The fluctuation of these currencies underscores the economic pressure on the national currency, as Cubans navigate a landscape of uncertainty regarding access to basic goods and the preservation of savings in stronger currencies.
Current Exchange Rates in Cuba: November 29, 2024 - 6:57 AM
Exchange Rate of USD to CUP according to elTOQUE: 328 CUP
Exchange Rate of EUR to CUP according to elTOQUE: 343 CUP
Exchange Rate of MLC to CUP according to elTOQUE: 265 CUP
Equivalents in Cuban Pesos Based on Available Notes
Dollar (USD):
$1: 328 CUP
$5: 1,640 CUP
$10: 3,280 CUP
$20: 6,560 CUP
$50: 16,400 CUP
$100: 32,800 CUP
Euro (EUR):
€1: 343 CUP
€5: 1,715 CUP
€10: 3,430 CUP
€20: 6,860 CUP
€50: 17,150 CUP
€100: 34,300 CUP
Frequently Asked Questions (FAQ) About Currency Rates in Cuba
Why have the dollar and euro prices increased in Cuba's informal market?
The rise in these foreign currencies' prices stems from high demand against the backdrop of a Cuban peso that holds little real value. This situation results from inflation and a lack of trust in the national currency, prompting many Cubans to turn to stable currencies like the dollar and euro.
What does it mean that the MLC's exchange rate hasn't changed since yesterday?
The stability of the MLC at 265 CUP might suggest that its value is more regulated by internal market dynamics within state-run stores, where this currency is used. This could indicate lower demand or a temporary balance in its availability.
How does the fluctuation of these currencies impact the daily lives of Cubans?
The shifts in currency exchange rates directly influence the prices of imported goods, making access to basic necessities more expensive and saving more challenging. Those reliant on remittances or conducting transactions in foreign currencies face higher costs to meet their everyday needs.