Historic drop: implacable decline of dollars, euros, and MLC in Cuba continues

The US currency has been falling for more than two consecutive weeks.

This Friday, the three reference currencies in the Cuban informal market wake up with new price drops, thus completing an unprecedented downward streak in informal sales on the island.

The dollar falls five units below the 300-peso threshold and is quoted at 295 CUP, according to the value recorded at 7 in the morning (local Cuban time) on May 31.

The US currency thus moderates its sharp drop of 20 pesos in 24 hours from the previous day, although the remarkable fact remains the dizzying pace at which currencies have fallen in the last two weeks, in some cases adding up to 10 or even 20 pesos in a single day.

The dollar is down 100 pesos today in 16 days, confirming an unprecedented pace of decline since elToque began documenting price fluctuations in the informal sale of foreign currencies on the island.

The euro also drops by five pesos, falling to 305 CUP.

The Freely Convertible Currency (MLC), on the other hand, falls three pesos and is quoted at 265 CUP at the beginning of the day.

Exchange rate today 05/31/2024 - 7:00 a.m. in Cuba:

Exchange rate of the USD to CUP according to ELTOQUE: 295 CUP.

Euro to CUP exchange rate according to ELTOQUE: 305 CUP.

Exchange rate of the MLC to CUP according to elTOQUE: 265 CUP.

Alternative exchange rate from other platforms:

Dollar exchange rate (USD): Buying 284 CUP, Selling 298 CUP.

Exchange rate of the Euro (EUR): Buying 294 CUP, Selling 307 CUP.

Exchange rate for MLC: Buying 257 CUP, Selling 265 CUP.

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

Although many Cubans consider the fall in the informal price of currencies in Cuba positive, they wonder why consumer goods prices do not decrease either, something they eagerly await.

However, sources from CiberCuba on the island and reports on social media ensure that certain SMEs may have already started to lower some prices.

Meanwhile, those who are lucky enough to have access to the reference currencies in the country recommend waiting and not selling because they believe that the value of the euro, the dollar, and the MLC will eventually rise again.

The Cuban government has not spoken out since mid-May when the price of foreign currencies began to decrease in the informal market.

Equivalent of each available euro and US dollar bill to Cuban pesos (CUP)

United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates for this Wednesday, May 29th.

1 USD = 295 CUP.

5 USD = 1,475 CUP.

10 USD = 2,950 CUP.

20 USD = 5,900 CUP.

50 USD = 14,750 CUP.

100 USD = 29,500 CUP.

Euro (EUR) to Cuban Peso (CUP):

1 EUR = 305.

5 EUR = 1,525 CUP.

10 EUR = 3,050 CUP.

20 EUR = 6,100 CUP.

50 EUR = 15,250 CUP.

100 EUR = 30,500 CUP.

200 EUR = 61,000 CUP.

500 EUR = 152,500 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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