This Saturday morning, the U.S. dollar remained unchanged in Cuba's informal market, while the euro continued to lose ground. The American currency stayed at an average rate of 673 CUP, the euro dipped to 782 CUP, and the Freely Convertible Currency (MLC) saw a slight increase to 449 CUP. However, caution is advised with the MLC's value due to the limited trading volume.
According to CiberCuba's exchange rate data, the dollar repeated its previous value exactly. Meanwhile, the euro decreased by 1.5 CUP, which is a 0.2% drop, and the MLC gained 3 CUP, a 0.7% increase.
Current Buying and Selling Rates
In the buying and selling transactions, the dollar is listed at 670 CUP for buying and 675 CUP for selling this Saturday. The euro is trading between 774 CUP for buying and 790 CUP for selling, while the MLC is around 437 CUP for buying and 461 CUP for selling.
Dollar's Stability Over the Past Week
The dollar's stability is not just a daily occurrence; it has been constant for a week, maintaining its position at 673 CUP without any significant change. Looking back a month, the dollar shows a minimal increase of 2.5 CUP, equivalent to a 0.4% rise.
Euro's Fluctuations and MLC's Variability
The euro is struggling to keep pace. A week ago, it was at 785 CUP, and now it's at 782 CUP, marking a 0.4% decrease. Despite this, compared to a month ago, the euro has seen an increase of 22 CUP or 2.9%.
The MLC presents a different scenario. Although it increased from yesterday, it still remains 23 CUP below the 472 CUP mark from a week ago, a 4.9% decline. Over the past 30 days, the MLC has barely lost 1 CUP, representing a 0.2% decrease.
Currency Movements Over the Last Month
Over the past month, the dollar fluctuated between a low of 655 CUP and a high of 675 CUP. The euro ranged from 745 to 790 CUP, while the MLC oscillated between 425 and 496 CUP.
The snapshot from Saturday's opening is clear: the dollar remains steady, the euro is losing momentum, and the MLC is attempting to regain ground after a weaker week. The MLC's current value is indicative only, given the limited data available in this segment.
Comparison with Official Rates
According to the Central Bank of Cuba's official rate for Segment III, applicable to the public this Saturday, the dollar is set at 621 CUP and the euro at 717 CUP. The MLC does not have a comparable official rate.
Over the last month, official rates have shifted. The official dollar rate increased from 589 to 621 CUP, while the euro rose from 672 to 717 CUP. These values align with the minimum and maximum official rates recorded during this period.
Value of Currency in Cuban Pesos
Using the average informal market rate of 673 CUP per dollar, the conversions are as follows:
- 1 USD = 673 CUP
- 5 USD = 3,363 CUP
- 10 USD = 6,725 CUP
- 20 USD = 13,450 CUP
- 50 USD = 33,625 CUP
- 100 USD = 67,250 CUP
With the euro at an average rate of 782 CUP, the conversions are:
- 1 EUR = 782 CUP
- 5 EUR = 3,910 CUP
- 10 EUR = 7,820 CUP
- 20 EUR = 15,640 CUP
- 50 EUR = 39,100 CUP
- 100 EUR = 78,200 CUP
- 200 EUR = 156,400 CUP
- 500 EUR = 391,000 CUP
Understanding Currency Trends in Cuba's Informal Market
Why is the dollar stable in Cuba's informal market?
The dollar has remained stable due to consistent demand and supply dynamics in the informal market, along with external economic factors influencing its value.
What factors are affecting the euro's value in Cuba?
The euro's value is influenced by fluctuations in European markets, economic policies, and local demand in Cuba's informal market.
How does the MLC differ from other currencies in Cuba?
The MLC is a currency used for specific transactions in Cuba, and its value can vary significantly due to low trading volumes and limited availability.