This Friday the dollar starts with a decline in its average selling price in the Cuban informal market.
At 7:00 a.m. (local time) on July 5th, the US currency is being sold at 345 CUP, five pesos less compared to the price of the last two days, when the dollar was priced at 350 pesos.
According to the current average value of the dollar, 5 USD exchanged would be 1,725 CUP and 10 USD would be equivalent to 3,450 CUP.
Today the euro and the MLC remain unchanged: the European currency remains pegged at 360 pesos and the Freely Convertible Currency at 300 pesos.
Exchange rate today 05/07/2024 - 7:16 a.m. in Cuba:
Exchange rate of USD to CUP according to ELTOQUE: 345 CUP.
Euro (EUR) exchange rate to CUP according to ELTOQUE: 360 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 300 CUP.
The informal exchange rate of Cuba offered here is not officially recognized or backed by any financial or governmental entity.
The pulse between the government and MSMEs
The new decline in the value of the dollar takes place amid the conflict between SMEs and the government, following the latter's decision to cap the prices of essential products sold in the retail network, a measure that has caused immense discontent in the private sector of the Cuban economy.
"If they want essential products to continue entering, this is not the way," warned an entrepreneur about the decision to cap the prices of six basic products marketed by the private sector.
According to the previous announcement, the centralized price system will start with chicken, oil, powdered milk, pasta, sausages, and powdered detergent, with the intention of containing the rampant inflation that is gripping the Cubans.
In March, Miguel Díaz-Canel promised a package of economic measures to "correct distortions and reinvigorate the economy." He said that prices would remain high, but that "abusive or speculative prices" would not be allowed.
Equivalent value 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 of this Friday, July 5th.
1 USD: 345 CUP.
5 USD: 1,725 CUP.
10 USD: 3,450 CUP.
20 USD: 6,900 CUP.
50 USD: 17,250 CUP.
100 USD: 34,500 CUP.
Euros (EUR)
1 EUR: 360 CUP.
5 EUR: 1,800 CUP.
10 EUR: 3,600 CUP.
20 EUR: 7,200 CUP.
50 EUR: 18,000 CUP.
100 EUR: 36,000 CUP.
What do you think?
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