Apparent stability: This is how currencies fluctuate in the Cuban informal market.

The currencies in the Cuban informal market maintain an apparent stability, with the dollar at 320 CUP and the euro at 330 CUP, with no significant fluctuations in recent days.

Current affairs
CiberCuba editorial.

22/09/2024 - 12:12pm (GMT-5) |

The apparent stability continues to be the denominator of the informal foreign exchange market, which operates outside of what is established by the Cuban regime and actually dictates the exchange rates on the island that sellers and buyers follow, having gone several days without significant variations.

Currently, the US dollar (USD) is quoted at 320 Cuban pesos (CUP), while the euro (EUR) reaches 330 CUP. Meanwhile, the Freely Convertible Currency (MLC) has been valued at 270 CUP for more than a week.

Exchange rate today 09/22/2024 - 4:11pm in Cuba:

Exchange rate of the dollar USD to CUP according to elTOQUE: 320 CUP

Exchange rate of the euro EUR to CUP according to TOQUE: 330 CUP

Exchange rate of MLC to CUP according to TOQUE: 270 CUP

The last significant change in the informal market occurred last Saturday, September 14, precisely with the MLC, the electronic currency created by the regime, which went from 275 CUP to being traded at 270 CUP, a price that it currently maintains.

The median of buying and selling values published this Sunday by the independent media outlet El Toque shows static values for the euro, but presents fluctuations in the other currencies, including the Canadian dollar, whose selling price has reached 212.50 CUP. Meanwhile, the selling price of the dollar can be found at up to 322 CUP, while the buying price of MLC falls from 270 to 265 CUP.

The apparent calm has not represented an improvement in the pocket of the Cuban worker, who lives on the 2,100 pesos that is the basic salary on the island. For months now, those who do not have income in dollars are getting even closer to the threshold of extreme poverty, with the government seemingly unable to solve the situation in the shortest time possible.