For the second consecutive day this Wednesday, after a brief spike lasting only a day, the dollar is once again valued at 320 pesos in Cuba's informal market. Those who were hopeful after Monday's rise to 322 CUP—breaking a 52-day streak at 320 CUP—were disappointed as the temporary increase did not set a trend.
Meanwhile, the euro and the Freely Convertible Currency (MLC) remain unchanged on this September 25th: the European currency is pegged at 330, and the virtual currency used by the Cuban government is at 270, a price it reached on September 14th.
Currency Exchange Rates as of September 25, 2024 - 7:50 a.m. in Cuba
Dollar (USD) to CUP according to elTOQUE: 320 CUP.
Euro (EUR) to CUP according to elTOQUE: 330 CUP.
MLC to CUP according to elTOQUE: 270 CUP.
Conversion Rates for Available Euro and USD Bills to Cuban Pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), based on the September 25 exchange rates:
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.
Economic Stability and Its Implications
Despite the recent stability in the informal currency market over the past two months, prices remain high for the population. This situation is a clear indicator of the ongoing economic crisis in Cuba, where inflation and a shortage of foreign currency severely impact the purchasing power of its citizens.
The current price stability contrasts sharply with the significant fluctuations experienced during the first seven months of 2024, marked by erratic and sudden increases and decreases in prices. The unusual steadiness of currency prices in the informal market in recent weeks has surprised many Cubans, who are trying to understand the reasons behind this phenomenon.
However, data from elTOQUE indicates that the two-peso increase in the dollar's value was an isolated incident and does not suggest a rising trend for the US currency at this time.