For the fifth consecutive day this Saturday, the dollar is rising in price in the Cuban informal market, strengthening its recovery streak after having maintained a downward trend that lasted almost a month.
At 7:00 a.m. (Cuban local time) on July 27, the US dollar is trading at an average of 325 CUP in street exchanges in Cuba, which represents an increase of five units compared to the previous day.
In the last five days, the US dollar has increased by 25 CUP in the average selling price in the informal market, at a rate of five pesos per day.
The euro and the Freely Convertible Currency (MLC) remain unchanged today: the European currency is at 330 CUP and the MLC at 270 pesos.
On social media, numerous Cubans are linking the shift in the informal market in recent days to the economic measures announced by the Cuban government this month, including the return to cash payments in foreign currencies in some services.
The new increases, which are part of the eternal dance of the informal currency market on the island, come after a sustained streak of decline in the three currencies.
Exchange rate today 07/27/2024 - 7:30 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 325 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 330 CUP.
Exchange rate of MLC to CUP according to the TOQUE: 270 CUP.
The informal exchange rate of Cuba offered here is not officially recognized or endorsed by any financial or governmental entity.
Equivalences of each available Euro and US dollar bill to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates this Saturday, July 27.
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.
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.
This information can help those who need to make conversions between these currencies and the Cuban peso today.
There will be no new official exchange rate in Cuba in the short term.
The Cuban Prime Minister, Manuel Marrero Cruz, said last week that they cannot establish a new exchange rate "overnight." The official argued that a new official exchange rate "would bring a devaluation of the peso and an undesired impact on inflation, prices, and low wages."
He indicated that there will be a new resizing of the foreign exchange market at some point, but warned that it is complex to do so under the current economic conditions, and stated that it will be implemented "very gradually and with utmost caution."
The regime admitted the failure of the official exchange rate of 1x120 imposed in August 2022 as part of the economic restructuring, but has not yet found a way to determine an exchange rate that eliminates the informal currency market.
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