Dollar reaches record price in the informal market in Cuba

The US currency continues to rise in value in the island's informal market. See the details here.

4/29/2024 - 8:11am (GMT-5) |

The price of the dollar continues to rise and marks a new record this Monday, in the informal currency exchange market in Cuba.

The independent press mediumelToque publishes the informal market rate daily. On this day the US dollar is trading at 375 CUP, five pesos more than on Sunday.

The European currency is quoted in Cuba at 384 CUP, one peso less than the previous day, when it set a record value for the fourth consecutive day.

The freely convertible currency (MLC) also rose slightly in price this Monday. Its exchange value was established at 292 CUP.

Exchange rate today 04/29/2024 - 7:52am in Cuba:

Exchange rate from USD to CUP according to TOQUE: 375 CUP
Euro exchange rate EUR to CUP according to elTOQUE: 384 CUP
Exchange rate from MLC to CUP according to elTOQUE: 292 CUP

Alternative exchange rate from other platforms:

Dollar (USD) exchange rate: Buy 371 CUP, Sell 373 CUP
Euro (EUR) exchange rate: Buy 383 CUP, Sell 383 CUP
MLC exchange rate: Buy 291 CUP, Sell 290 CUP

With updated exchange rates, each US dollar bill is quoted in Cuba as follows:

$1 USD: 375 CUP
$5 USD: 1,875 CUP
$10 USD: 3,750 CUP
$20 USD: 7,500 CUP
$50 USD: 18,750 CUP
$100 USD: 37,500 CUP

For the euro, the values are:

€1 EUR: 384 CUP
€5 EUR: 1,920 CUP
€10 EUR: 3,840 CUP
€20 EUR: 7,680 CUP
€50 EUR: 19,200 CUP
€100 EUR: 38,400 CUP

These values are referential and may vary in the informal market. The escalation in the value of foreign currencies is explained by the dynamics of supply and demand in this irregular market.

This situation is an example of how the devaluation of the Cuban peso is progressing, in a crisis accentuated by its low use for daily transactions, such as the purchase of gasoline or basic necessities.