The Freely Convertible Currency (MLC) has been the first to react in the informal market with a price drop, following the massive blackout that kept Cubans in an unprecedented situation for several days due to the national collapse of the electrical system.
At dawn this Wednesday, the MLC - the virtual currency used by the government in stores created for it - had fallen to 262.5 CUP.
The figure represents 2.5 pesos less than the value it had since October 9, when it suddenly dropped by five pesos.
In the case of the dollar and the euro, on this October 23rd, both currencies remain valued at the same rates they have had for several days: 325 for the dollar and 340 for the European currency.
"Without electricity, you can't buy even a can of sardines. A success of the MLC!" a user stated on Facebook just a few hours ago, highlighting a clear reality of the Monetary Libremente Convertible, completely tied to the virtual universe due to its non-existence in physical form.
If you only have MLC, in case of a blackout you cannot find someone to sell you a can or any other food on the street in case of extreme need.
In practice, "if you don't have cash, you don't exist," someone stated.
Exchange rate today 23/10/2024 - 7:15 a.m. in Cuba:
Exchange rate of the Dollar USD to CUP according to TOQUE: 325 CUP.
Exchange rate of the Euro EUR to CUP according to elTOQUE: 340 CUP.
Exchange rate of MLC to CUP according to TOQUE: 262.5 CUP.
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 for this October 23:
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.
Euro (EUR):
1 EUR = 340 CUP.
5 EUR = 1,700 CUP.
10 EUR = 3,400 CUP.
20 EUR = 6,800 CUP.
50 EUR = 17,000 CUP.
100 EUR = 34,000 CUP.
What do you think?
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