After more than seven weeks—52 days to be exact—since the last uptick in the selling price of the dollar in Cuba's black market, the value of the U.S. currency has increased this Monday. The dollar has risen from 320 to 322 CUP, just two pesos higher than its previous rate, which had remained unchanged since August 3.
Meanwhile, the euro and the Moneda Libremente Convertible (MLC) have started this September 23 without any changes. The European currency is valued at 330 CUP, and the MLC, a virtual currency operated by the Cuban government, stands at 270 CUP—a rate it reached on September 14.
Current Exchange Rates as of September 23, 2024 - 7:33 a.m. in Cuba
Exchange rate of the U.S. dollar (USD) to Cuban peso (CUP) according to elTOQUE: 322 CUP.
Exchange rate of the euro (EUR) to Cuban peso (CUP) according to elTOQUE: 330 CUP.
Exchange rate of the MLC to Cuban peso (CUP) according to elTOQUE: 270 CUP.
Conversion Rates for USD and EUR
U.S. Dollar (USD) to Cuban Peso (CUP) as of September 23:
1 USD: 322 CUP
5 USD: 1,610 CUP
10 USD: 3,220 CUP
20 USD: 6,440 CUP
50 USD: 16,100 CUP
100 USD: 32,200 CUP
Euros (EUR) to Cuban Peso (CUP) as of September 23:
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
Crisis and Economic Indicators
Despite the apparent stability in the black market exchange rates over the past two months, prices have remained prohibitively high for the general population. These high rates are a stark indicator of the severe economic crisis gripping Cuba, where inflation and currency shortages are drastically eroding the purchasing power of its citizens.
In contrast to the relative price stability observed in recent weeks, the first seven months of 2024 were marked by significant and volatile fluctuations. This unusual period of stability had left many Cubans puzzled, as they sought to understand the reasons behind it.
It remains to be seen whether this two-peso increase in the dollar's value is a temporary spike or the beginning of a new trend.