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Currency prices rise: Informal exchange rate continues to reflect uncontrolled inflation in Cuba

With the national currency downhill and without brakes, the minimum wage in Cuba is below six dollars (5.6 USD), while pensioners and retirees are entering a strip of poverty of unknown dimensions.

Euro and Dollar (Reference Image) Photo © CiberCuba

After the dramatic jump of five points experienced the day before by the dollar In the informal currency exchange market in Cuba, this Tuesday the price of the US currency remains at 375 Cuban pesos (CUP).

On the contrary, the other two reference currencies - euro and freely convertible currency (MLC) - have suffered variations in their price compared to Monday, both increasing one point in their price.

This Tuesday, the European currency is quoted in Cuba at 385 CUP, while the MLC reaches 293 CUP, according to the informal market rate prepared by the independent press mediumelTOQUE.

Exchange rate today 04/30/2024 - 8:03am in Cuba:

  • Dollar exchange rate (USD) to CUP according to TOUCH:375 CUP
  • Euro exchange rate (EUR) to CUP according to TOUCH:385 CUP
  • Exchange rate ofMLC to CUP according to TOUCH:295 CUP

Alternative exchange rate from other platforms:

  • Dollar exchange rate (USD): Buy 377 CUP, Sell376 CUP
  • Euro exchange rate (EUR): Buy 385 CUP, Sell384 CUP
  • Exchange rate ofMLC: Buy 292 CUP, Sell291 CUP

With the updated exchange rates for the Cuban peso (CUP), the costs of each US dollar (USD) and euro (EUR) bill are as follows:

US Dollar (USD)

  • 1 USD = 377 CUP
  • 5 USD = 1,885 CUP
  • 10 USD = 3,770 CUP
  • 20 USD = 7,540 CUP
  • 50 USD = 18,850 CUP
  • 100 USD = 37,700 CUP

Euro (EUR)

  • 1 EUR = 385 CUP
  • 5 EUR = 1,925 CUP
  • 10 EUR = 3,850 CUP
  • 20 EUR = 7,700 CUP
  • 50 EUR = 19,250 CUP
  • 100 EUR = 38,500 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 an inflationary crisis accentuated by its low use for daily transactions, such as the purchase of gasoline or basic necessities.

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