In Cuba's informal market, the U.S. dollar remains stagnant, as reported by the independent media outlet elToque, which analyzes sales advertisements on social media. As of December 6, the American currency has been consistently valued at 328 pesos in street transactions for 25 consecutive days.
The euro and the Cuban government's virtual currency, known as the Freely Convertible Currency (MLC), also show no variations today. The euro remains steady at 340 CUP, while the MLC holds firm at 365 CUP. There's no indication of any changes in December, according to the "paralyzing" trend diagnosed by economist Pavel Vidal in a report from the Cuban Observatory of Currencies and Finance (OMFi).
Despite the approach of Christmas and the end of the year, there has been no significant movement in informal buying and selling activities on the island. Fewer tourists, reduced imports, and a decline in economic activities across all sectors have resulted in a contraction of supply and demand for foreign currency," stated Pavel Vidal in November.
Current Exchange Rates as of 12/06/2024 - 10:30 a.m. in Cuba:
According to elToque, the exchange rate for the U.S. dollar is 328 CUP, the euro is at 340 CUP, and the MLC is at 265 CUP.
Equivalents for each available denomination of U.S. dollars and euros in Cuban pesos (CUP):
U.S. Dollar (USD) to Cuban Peso (CUP), based on the exchange rates for December 6:
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 = 340 CUP
5 EUR = 1,700 CUP
10 EUR = 3,400 CUP
20 EUR = 6,800 CUP
50 EUR = 17,000 CUP
100 EUR = 34,000 CUP
Understanding Currency Exchange in Cuba
Why is the U.S. dollar stagnant in Cuba's informal market?
The U.S. dollar is stagnant due to a combination of factors such as fewer tourists, reduced imports, and a decline in overall economic activities, resulting in lower demand and supply for foreign currencies.
What are the current exchange rates for major currencies in Cuba?
As of December 6, the exchange rate for the U.S. dollar is 328 CUP, the euro is 340 CUP, and the MLC is 265 CUP, according to elToque.