This Tuesday, the average selling values of dollars, euros, and the freely convertible currency (MLC) remain unchanged compared to the previous day.
The dollar remains today valued at 328 pesos, its predominant value since November 12.
The euro remains at 340 CUP, a price it reached this Monday after consolidating two consecutive days of declines.
In the case of the MLC, it adds one more day to 265 CUP.
Will the "paralyzing" trend of the Cuban informal market change in December?
November was a month with few changes in the average exchange rates of the three key currencies in the informal market, something that was anticipated by the Observatory of Currencies and Finance of Cuba (OMFi).
It remains to be seen whether the approaching Christmas and New Year will spark any additional demand in informal buying and selling activities on the island.
According to the latest report from the OMFi, the worsening of the economic crisis in the country has had a "paralyzing effect" on the buying and selling of currencies in the black market.
"Fewer tourists, fewer imports, and a downturn in economic activities across all sectors have led to a contraction in the supply and demand for foreign currency," stated Cuban economist Pavel Vidal, who resides in Colombia.
Exchange rate today 03/12/2024 - 1:42 p.m. in Cuba:
Exchange rate of the dollar USD to CUP, according to elTOQUE: 328 CUP.
Exchange rate of the euro EUR to CUP, according to elTOQUE: 340 CUP.
Exchange rate of MLC to CUP, according to TOQUE: 265 CUP.
Equivalences of each available euro and US dollar bill to Cuban pesos (CUP)
US Dollar (USD) to Cuban Peso (CUP), based on the exchange rates from December 3rd.
1 USD = 328 CUP.
5 USD = 1,640 CUP.
10 USD = 3,280 CUP.
20 USD = 6,560 CUP.
50 USD = 16,400 CUP.
100 USD = 32,800 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.
Frequently Asked Questions about the Informal Currency Market in Cuba
What is the current price of the dollar in the Cuban informal market?
The dollar is currently trading at 328 Cuban pesos (CUP) in the Cuban informal market, remaining stable since November 12, 2024.
How has the value of the euro changed in Cuba recently?
The euro has seen slight declines in its average selling value, currently trading at 340 CUP after a drop from 345 CUP at the end of November 2024.
What is the Free Convertible Currency (MLC) and what is its current value?
The freely convertible currency (MLC) is a virtual currency used in specific stores in Cuba. Currently, its value is 265 CUP in the informal market, demonstrating stability in recent months.
What factors have contributed to the stability of the foreign exchange market in Cuba?
The stability in the Cuban foreign exchange market is a result of the country's economic crisis, which has diminished tourism, imports, and overall economic activity. This has caused a paralyzing effect on the supply and demand for foreign currency.
What is forecasted for the informal currency market in Cuba?
The stagnation of the informal market is expected to continue in the short term, due to the ongoing economic crisis and the lack of significant changes in the supply and demand for foreign currency, according to economist Pavel Vidal.
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