The dollar plummets in Cuba: It has been falling for seven days now.

Dollars and euros once again record a drop this Wednesday in the average selling value in the informal Cuban market.

At 7 a.m. on May 22nd (Cuban local time), the dollar is valued at 365 pesos, five pesos less than the previous day.

For seven consecutive days, the dollar has been falling. Between May 16 and the 22nd, it has dropped a total of 30 pesos in a week.

In the case of the European currency, it drops by two pesos and stands at 378 CUP today.

The Freely Convertible Currency (MLC), on the other hand, continues to be valued at 300 pesos, a price it has held for several days.

Exchange rate today 22/05/2024 - 7:20 a.m. in Cuba:

Exchange rate of the USD to CUP according to elToque: 365 CUP.

Exchange rate of the euro EUR to CUP according to ELTOQUE: 378 CUP.

Exchange rate of MLC to CUP according to elTOQUE: 300 CUP.

Alternative exchange rate from other platforms:

Dollar exchange rate (USD): Buying 357 CUP, Selling 368 CUP.

Euro exchange rate (EUR): Buying 367 CUP, Selling 378 CUP.

Exchange rate of the MLC: Buying 291 CUP, Selling 299 CUP.

The informal exchange rate of Cuba offered here is not officially recognized or endorsed by any financial or governmental entity.

The following are the equivalences of each available euro and US dollar bill to Cuban pesos (CUP), according to the exchange rates of this Wednesday, May 22nd.

United States Dollar (USD) to Cuban Peso (CUP):

1 USD = 365 CUP.

5 USD = 1,825 CUP.

10 USD = 3,650 CUP.

20 USD = 7,300 CUP.

50 USD = 18,250 CUP.

100 USD = 36,500 CUP.

Euro (EUR) to Cuban Peso (CUP):

1 EUR = 378 CUP.

5 EUR = 1,890 CUP.

10 EUR = 3,780 CUP.

20 EUR = 7,560 CUP.

50 EUR = 18,900 CUP.

100 EUR = 37,800 CUP.

This information can be useful to calculate the cost in Cuban pesos of any amount of dollars or euros. These conversions are based on the provided rates of 365 CUP per dollar and 378 CUP per euro.

The Cuban economist Emilio Morales stated this week in an interview granted to CiberCuba that it is "impossible" for the Cuban peso to have revalued on its own, gaining ground against the dollar, as has happened in recent days, and attributed the drop in the informal exchange rate of currencies to maneuvers by the cyber-clarias of the UCI (University of Computer Sciences) on the island.

According to Emilio Morales, the only news that can revalue the peso by itself is "that the Government fell," because it would finally open up hope for a change in the system.

Morales also dismissed that the decrease in the price of dollars, euros, and MLC in Cuba is due to a supposed injection of foreign currency into the informal market.

"Where are they going to get the foreign currency from if they have power outages every day because they cannot afford to buy oil? It would have to be a multimillion-dollar injection, and they don't have it," he questioned.

In response to the question of whether there can be any mechanism other than the intervention of the catfish to control inflation this week, the economist responded emphatically.

That's a lie. Cuba doesn't produce. Where is the productive support for that to happen? It will probably get back on track and surpass the barrier of 400 pesos," he asserted.

Emilio Morales also rejected that ElToque is responsible for the inflation that the country is experiencing by publishing the evolution of the currency in the informal market, as the government has repeatedly insisted.