The euro surged by five pesos in the Cuban informal market on Friday, breaking a seven-week period of stability. The European currency increased from 330 to 335 Cuban pesos (CUP).
The last time the euro saw movement was on August 5th, and since that date, the European Union's currency had remained unchanged in Cuba's informal sales sector.
Meanwhile, the US dollar and the Cuban government’s virtual currency, the Moneda Libremente Convertible (MLC), remained steady on September 27th. The US dollar held at 320 CUP, and the MLC stayed at 270 CUP, a rate it has maintained since September 14th.
The rise of the euro comes in the same week when the US dollar briefly increased to 322 CUP on Monday, breaking a 52-day streak at 320 CUP. However, hopes for a continuing upward trend were dashed when the dollar returned to 320 CUP the following day.
Current Exchange Rates on September 27, 2024
As of 7:25 a.m., the exchange rates in Cuba according to elTOQUE are as follows:
USD to CUP: 320 CUP
EUR to CUP: 335 CUP
MLC to CUP: 270 CUP
The confirmed median values from elTOQUE underscore the euro's increase but indicate no imminent rise for the dollar, with both the median buying and selling rates fixed at 320 pesos.
Currency Conversion Rates
According to the exchange rates on September 26, the conversion rates are:
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
Euro (EUR) to Cuban Peso (CUP):
- 1 EUR = 335 CUP
- 5 EUR = 1,675 CUP
- 10 EUR = 3,350 CUP
- 20 EUR = 6,700 CUP
- 50 EUR = 16,750 CUP
- 100 EUR = 33,500 CUP
Despite the relative stability in the informal currency market over the past two months, prices remain high for the Cuban population, highlighting the ongoing economic crisis. The country's inflation and currency scarcity continue to erode citizens' purchasing power.
This recent period of price stability contrasts sharply with the significant fluctuations seen during the first seven months of 2024, marked by abrupt increases and decreases in currency values.