This Sunday, the dollar and the euro experience a sharp drop in the average selling value in the informal Cuban market.
At 7 in the morning of May 19th (Cuban local time), the dollar is valued at 380 pesos, five pesos less than the previous day. In the last few hours, the selling price of the dollar has dropped for the fourth consecutive day.
The US currency reached 395 pesos on May 9 and remained at that stable value for a week. However, between the 16th and the 19th, it has dropped by 15 pesos in just four days.
Regarding the euro, it also decreases by five pesos and stands at 390 CUP today in relation to its value on Saturday.
In the case of the European currency, it reached its all-time high on May 10, climbing to 402.5, dropped the next day to 400 (May 11), and remained at that average price until this Saturday when it fell to 395. This Sunday marks its second consecutive day of decline.
The Freely Convertible Currency (MLC) remains at 300 today after experiencing a sudden drop.
Exchange rate today 19/05/2024 - 7:00 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 380 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 390 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 300 CUP.
Alternative exchange rate of other platforms:
Dollar exchange rate (USD): Buying 375 CUP, Selling 383 CUP.
Euro exchange rate (EUR): Buying 384 CUP, Selling 393 CUP.
Exchange rate of the MLC: Buying 296 CUP, Selling 301 CUP.
The unofficial exchange rate of Cuba offered here is not officially recognized or supported by any financial or governmental entity.
Below are the equivalences of each available euro and US dollar bill to Cuban pesos (CUP), based on the exchange rates for this Sunday, May 19th.
United States Dollar (USD) to Cuban Peso (CUP):
1 USD = 380 CUP.
5 USD = 1900 CUP.
10 USD = 3800 CUP.
20 USD = 7600 CUP.
50 USD = 19000 CUP.
100 USD = 38000 CUP.
Euro (EUR) to Cuban Peso (CUP):
1 EUR = 390 CUP.
EUR = 1950 CUP.
10 EUR = 3900 CUP.
20 EUR = 7800 CUP.
50 EUR = 19500 CUP.
100 EUR = 39000 CUP.
200 EUR = 78000 CUP.
500 EUR = 195000 CUP.
This information can be useful to calculate the cost in Cuban pesos of any amount of dollars or euros. These conversions are based on the provided rates of 380 CUP for every dollar and 390 CUP for every euro.
In recent days, the average sale of the three reference currencies in the informal Cuban market showed signs of slowing down, and in the last few hours, the path they have taken is one of abrupt retreat.
In an article published by elToque at the beginning of the month, the independent media outlet warned that the models of the Observatory of Currencies and Finances of Cuba (OMFi) anticipated that the trend towards the depreciation of the peso could continue in May.
They also predicted that the informal exchange rate could be around 417-427 CUP per dollar, 422-433 CUP per euro, and 316-324 CUP per MLC by the end of the month.
Judging by what has happened in the last few days, the decrease in the devaluation rate of the Cuban peso has already begun.
Until the publication of this note, elToque has not commented on the possible cause that could be influencing the sudden retreat of the price of currencies in the informal Cuban market.
What do you think?
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