For the second day in a row, following a week marked by declines in the prices of both the dollar and the euro, these currencies open this Tuesday unchanged in Cuba's informal market. The dollar, which fell from 328 to 325 last week, remains steady at 325 today, a level it reached on December 14.
The euro is also holding at 335 CUP, after a sudden drop of five pesos was recorded on Sunday. As for the Freely Convertible Currency (MLC), its average selling price continues at 270 pesos, a rate that has seen only slight fluctuations over recent weeks.
The median values in the buying and selling of foreign currency over the past few hours indicate very little movement, suggesting that stability is likely to persist in the coming hours. While the recent drop in the value of the U.S. and European currencies in the informal Cuban market sparked speculation about whether it was a temporary adjustment or a new trend, there are currently no signs of imminent changes in these values.
The reality remains that Cubans continue to struggle with insufficient salaries to cope with the high cost of living on the island, a situation exacerbated by the approach of year-end festivities and the rising cost of many foods.
Current Exchange Rates on December 17, 2024 - 8:47 a.m. in Cuba
According to elTOQUE, today's exchange rates are as follows:
- USD to CUP: 325 CUP
- EUR to CUP: 335 CUP
- MLC to CUP: 270 CUP
Currency Conversion Equivalents
Here's how each available bill of euros and U.S. dollars converts into Cuban pesos (CUP) based on today's rates:
- 1 USD = 325 CUP
- 5 USD = 1,625 CUP
- 10 USD = 3,250 CUP
- 20 USD = 6,500 CUP
- 50 USD = 16,250 CUP
- 100 USD = 32,500 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
- 200 EUR = 67,000 CUP
- 500 EUR = 167,500 CUP
Understanding Currency Fluctuations in Cuba
Why are currency rates in Cuba's informal market important?
Currency rates in the informal market are crucial as they provide a more accurate reflection of the real economic conditions in Cuba, especially given the scarcity of foreign currency in official markets.
How does the stability of currency rates affect Cubans?
Stable currency rates can offer some predictability for Cubans in managing their finances, although the high cost of living remains a significant challenge.