This Wednesday, the three reference currencies in the Cuban informal market wake up with new price drops.
However, the most striking thing after accumulating declines since May 16th is the speed at which they are doing it.
Especially striking is the sharp drop of 20 pesos in 24 hours suffered by the euro as it falls to 320 CUP, according to the value recorded at 7 in the morning (local Cuban time) on May 29th.
Regarding the average dollar sale, for the fourth consecutive day it drops by 10 pesos and decreases to 310 pesos per unit.
The US dollar has dropped by 40 pesos in just four days and has decreased by 85 pesos in two weeks, revealing an unprecedented pace of decline since elToque began documenting price fluctuations in the informal sale of currencies on the island.
Although to a lesser extent, the Freely Convertible Currency (MLC) is also devalued today, decreasing by five pesos and starting the day valued at 270 CUP.
Exchange rate today 29/05/2024 - 7:00 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 310 CUP.
Euro exchange rate EUR to CUP according to elTOQUE: 320 CUP.
Exchange rate of the MLC to CUP according to elTOQUE: 270 CUP.
Alternative exchange rate from other platforms:
Dollar exchange rate (USD): Buying 300 CUP, Selling 314 CUP.
Euro exchange rate (EUR): Buying 306 CUP, Selling 331 CUP.
Exchange rate of the MLC: Buying 264 CUP, Selling 274 CUP.
The informal exchange rate of Cuba offered here is not officially recognized or supported by any financial or governmental entity.
Although many Cubans consider positive the fall of the informal prices of currencies in Cuba, they wonder why the prices of consumer goods do not also decrease, something they eagerly await.
However, sources from CiberCuba on the island and reports on social media ensure that certain SMEs have already started to lower some prices.
Meanwhile, those who are fortunate enough to have access to the reference currencies in the country, recommend waiting and not selling because they believe that eventually the value of the euro, the dollar, and the MLC will rise again.
The Cuban government has yet to make a statement since mid-May when the price of foreign currencies began to decrease in the informal market.
Equivalences of each available euro and United States dollar bill to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of this Wednesday, May 29th.
1 USD = 310 CUP.
5 USD: 1,550 CUP.
10 USD: 3,100 CUP.
20 USD: 6,200 CUP.
50 USD: 15,500 CUP.
100 USD: 31,000 CUP.
Euro (EUR) to Cuban Peso (CUP):
1 EUR = 320.
5 EUR: 1,600 CUP.
10 EUR: 3,200 CUP.
20 EUR: 6,400 CUP.
50 EUR: 16,000 CUP.
100 EUR: 32,000 CUP.
200 EUR: 64,000 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 310 CUP for every dollar and 320 CUP for every euro.
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