This Friday, the exchange rates in the Cuban informal market continue to rise, creating a challenging economic situation for the population.
The US dollar (USD) is trading at 327 Cuban pesos (CUP), while the euro (EUR) has reached 340 CUP, establishing itself as the most expensive currency in the black market.
On its part, the freely convertible currency (MLC), used for purchases in state-owned stores, has a value of 270 CUP.
These rates in the black market reflect the depreciation of the Cuban peso against foreign currencies, driven by high demand for various products and a limited supply.
Prices have a direct impact on the daily transactions of citizens, such as purchasing food, essential goods, and remittances. Furthermore, the gap between the official exchange rate and the informal rate highlights the disconnection between state economic policy and the reality of the informal market in the country.
Exchange rate today, 12/13/2024 - 6:12 am in Cuba:
Exchange rate of the Dollar (USD) to CUP according to elTOQUE: 327 CUP
Exchange rate of the Euro (EUR) to CUP according to elTOQUE: 340 CUP
Exchange rate from MLC to CUP according to TOQUE: 270 CUP
Conversion of available bills to Cuban pesos (CUP):
United States dollars (USD):
- 1 USD = 327 CUP
- 5 USD = 1,635 CUP
- 10 USD = 3,270 CUP
- 20 USD = 6,540 CUP
- 50 USD = 16,350 CUP
- 100 USD = 32,700 CUP
Euros (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 Exchange Rates in Cuba's Black Market
What is the exchange rate of the dollar in Cuba's black market today?
The US dollar (USD) is currently trading at 327 Cuban pesos (CUP) in Cuba's informal market. This figure highlights the ongoing devaluation of the Cuban peso against foreign currencies, a persistent issue that affects the country's economy.
How is the euro being quoted in the Cuban informal market?
The euro (EUR) in the informal Cuban market reaches 340 CUP. This figure has shown slight fluctuations but remains the most expensive currency on the black market, reflecting the high volatility and economic uncertainty on the island.
What is the Freely Convertible Currency (MLC) and what is its exchange rate today?
The freely convertible currency (MLC) is currently trading at 270 CUP on the Cuban black market. Primarily used in state-run stores, this currency is essential for many Cubans who need access to basic goods that are not available in the national currency.
Why are black market exchange rates so important for Cubans?
The exchange rates in the black market are essential for Cubans as they determine their ability to acquire foreign currency necessary to access basic products and services due to shortages in the official market. The volatility of these rates reflects the economic crisis and the lack of financial stability in Cuba.
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