The so-called stability remains the hallmark of Cuba's black market for foreign currency, operating outside the official channels dictated by the Cuban regime. This informal market essentially sets the exchange rates that buyers and sellers follow, having seen little significant change over the past few days.
Currently, the U.S. dollar (USD) is trading at 320 Cuban pesos (CUP), while the euro (EUR) is valued at 330 CUP. Meanwhile, the Freely Convertible Currency (MLC) has been stable at 270 CUP for over a week.
Current Exchange Rates as of September 21, 2024 - 6:30 PM in Cuba
According to independent media outlet El Toque, today's exchange rates are as follows:
- USD to CUP: 320 CUP
- EUR to CUP: 330 CUP
- MLC to CUP: 270 CUP
The last notable shift in the black market occurred on Saturday, September 14, when the MLC, an electronic currency introduced by the regime, dropped from 275 CUP to 270 CUP, where it remains today.
Market Dynamics and Their Impact
El Toque's latest median values for buying and selling show static rates for the euro, but fluctuations for other currencies, including the Canadian dollar, which is being sold for as much as 212.50 CUP. The USD can be found for as high as 322 CUP, while the MLC buying rate has decreased from 270 to 265 CUP.
This seeming stability hasn't translated into better conditions for the average Cuban worker, who earns a basic salary of 2,100 pesos. For months, those without dollar incomes are edging closer to extreme poverty, with no immediate solutions in sight from the government.
Currency Conversion Table
Below are the current exchange equivalents for various denominations of euros and U.S. dollars to Cuban pesos:
U.S. Dollar (USD) to Cuban Peso (CUP), as of September 22:- 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
- 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