The three main currencies in Cuba have maintained stable exchange rates on September 4th, with no changes in the average selling prices in the informal market. The US dollar remains at 320 CUP, the Euro at 330 CUP, and the Freely Convertible Currency (MLC) at 275 CUP, highlighting an unprecedented stability observed in recent weeks.
Exchange Rates on 09/04/2024 at 1:00 AM in Cuba:
USD to CUP exchange rate according to elTOQUE: 320 CUP.
EUR to CUP exchange rate according to elTOQUE: 330 CUP.
MLC to CUP exchange rate according to elTOQUE: 275 CUP.
The US dollar reached 320 CUP on August 3rd, and since then, the monitoring of classified ads that average its price in the informal market has shown no movement, according to elToque.
The Euro, which arrived at 330 CUP on August 5th, has also maintained its value without any changes. The most recent movement was for the Freely Convertible Currency (MLC) more than three weeks ago. Since August 9th, the virtual currency used by the Cuban government has been trading at 275 CUP.
The recent stability contrasts sharply with the abrupt fluctuations in the first seven months of 2024, during which the currencies experienced significant price increases and decreases.
Currently, elToque has not commented on the current exchange rate scenario in Cuba. The median buying and selling values published this Tuesday by the independent outlet do not suggest that the three main currencies are likely to experience changes soon.
The average selling prices on September 3rd were 330 CUP for Euros, 320 CUP for dollars, and 275 CUP for MLC. Regarding buying rates, today's averages are lower for dollars (317 CUP) and MLC (270 CUP).
Currency Conversion Rates
Here are the equivalent values of each available bill in Euros and US dollars to Cuban pesos (CUP) based on the exchange rates of September 4th:
US Dollar (USD) to Cuban Peso (CUP):
1 USD = 320 CUP.
5 USD = 1,600 CUP.
10 USD = 3,200 CUP.
20 USD = 6,400 CUP.
50 USD = 16,000 CUP.
100 USD = 32,000 CUP.
Euros (EUR):
1 EUR = 330 CUP.
5 EUR = 1,650 CUP.
10 EUR = 3,300 CUP.
20 EUR = 6,600 CUP.
50 EUR = 16,500 CUP.
100 EUR = 33,000 CUP.
200 EUR = 66,000 CUP.
500 EUR = 165,000 CUP.
Understanding Cuba's Informal Currency Market
In light of the stable exchange rates observed in recent weeks, here are some frequently asked questions to help you understand the dynamics of Cuba's informal currency market.
What is the current exchange rate for the US dollar in Cuba's informal market?
As of September 4th, the exchange rate for the US dollar in Cuba's informal market is 320 CUP, according to elTOQUE.
How has the Euro's value changed in the informal market recently?
The Euro has remained stable at 330 CUP since August 5th, showing no recent fluctuations in the informal market.
Why is the Freely Convertible Currency (MLC) significant in Cuba's market?
The MLC is significant because it is a virtual currency used by the Cuban government for transactions and has been trading at 275 CUP since August 9th.