The price of foreign currencies continues to soar in the informal Cuban market, showing signs of rising at a faster rate than the values fell over the course of nearly three weeks.
This Friday, the dollar, the euro, and the Convertible Currency (MLC) have once again seen significant price increases compared to the previous day, with values rising between 10 and 30 pesos for the second consecutive day.
The dollar rises by 30 pesos and climbs to 350 CUP.
In just 48 hours, the US dollar has surged by 50 units, something unimaginable just a few months ago when it typically fluctuated by three to five units per day.
The euro, for its part, rises by 20 pesos and is now at 355, just five pesos above the US dollar.
In the case of the Convertible Currency (MLC), it has increased by 10 pesos, and its average selling price is now at 280 CUP.
After a drop in average selling prices that lasted nearly three weeks, euros, dollars, and MLC have consolidated their recovery for the third consecutive day.
After starting to decline on May 16, the three currencies only took a one-day pause in their downward trend, as on June 4, none of them increased or decreased in price.
The rapid recovery of foreign currency has sparked hundreds, if not thousands, of opinions in the past 48 hours, covering a broad spectrum: from those who are lamenting not having sold and wishing they had waited, to those who claim, "THAT IS A LIE," asserting that the actual sale values of the currencies are operating outside the prices documented by elToque.
Conspiracy theories labeling elToque as "counter-revolutionary" are joined by small and medium-sized business owners organizing campaigns to manage the situation, another group that accuses the UCI of strange maneuvers, and those who mock both sides.
The true Cuban on the street says, "What do I care how much it is?"
And what is the Cuban government doing in the meantime? Nothing, just sleeping and staying silent, or at most watching the gladiators face off in the arena while the Cuban economy moves forward—yes, backward.
elToque did indeed speak out this Friday and announced that it will strengthen the controls to calculate the representative rate in order to deter intruders who are inflating or deflating values.
As expected, the first memes about the currency "shenanigans" have already begun to bear fruit, and comedians are finding material to make jokes.
Exchange rate today, 06/06/2024 - 7:39 a.m. in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 350 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 355 CUP.
The exchange rate of the MLC to CUP according to TOQUE is 280 CUP.
Alternative exchange rate from other platforms:
Dollar (USD) exchange rate: Buying 329 CUP, Selling 358 CUP.
Exchange rate of the Euro (EUR): Buying 339 CUP, Selling 359 CUP.
MLC exchange rate: Buy 276 CUP, Sell 283 CUP. The informal exchange rate for Cuba provided here is not officially recognized or supported by any financial or government entity.
Equivalents 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 Friday, June 7.
1 USD: 350 CUP
5 USD: 1,750 CUP
10 USD: 3,500 CUP
20 USD: 7,000 CUP
50 USD: 17,500 CUP
100 USD: 35,000 CUP
Euros (EUR) to Cuban Pesos (CUP)
1 EUR = 355 CUP.
5 EUR: 1,775 CUP.
10 EUR: 3,550 CUP.
20 EUR: 7,100 CUP.
50 EUR: 17,750 CUP.
100 EUR: 35,500 CUP.
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