As of December 12, 2024, the value of major foreign currencies remains elevated in Cuba's informal market. The United States Dollar (USD) is stable at 327 Cuban pesos (CUP), while the Euro (EUR) is trading at 340 CUP. Meanwhile, the freely convertible currency (MLC) is holding at 270 CUP, after experiencing weeks of fluctuations.
The exchange rates within the informal market highlight the repercussions of Cuba's economic crisis and showcase the dynamics of supply and demand amidst a scarcity of foreign currencies. Financial uncertainty continues to pose significant challenges for Cuban households, with no apparent signs of stabilization or improvement in the near future.
Current Exchange Rates as of December 12, 2024 - 6:34 AM in Cuba
USD to CUP Conversion Rate according to elTOQUE: 327 CUP
EUR to CUP Conversion Rate according to elTOQUE: 340 CUP
MLC to CUP Conversion Rate according to elTOQUE: 270 CUP
Equivalent in Cuban Pesos Based on Available Bills
USD Equivalents:
1 USD = 327 CUP
5 USD = 1,635 CUP
10 USD = 3,270 CUP
20 USD = 6,540 CUP
50 USD = 16,350 CUP
100 USD = 32,700 CUP
EUR Equivalents:
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 Cuba's Black Market Exchange Rates
Why are currency rates so high in Cuba's black market?
The high currency rates in Cuba's black market are primarily due to the scarcity of foreign currencies and the ongoing economic crisis, which has led to increased demand and limited supply.
What is the impact of these rates on Cuban families?
These elevated exchange rates exacerbate financial uncertainty for Cuban families, making it more difficult to afford imported goods and services, thereby straining household budgets.