Dollars, euros, and MLC gain momentum in informal sales.

The three reference currencies in Cuba woke up this Sunday with an increase in their average selling values in the informal market.

The dollar has already increased for six days after maintaining a downward trend that lasted almost a month. On July 28, the US currency rose to 330 pesos, five units more than the day before.

At 7:00 a.m. (Cuban local time), the euro and the freely convertible currency (MLC) also show upward changes.

Both increase by five pesos, which means that the European currency reaches 335 CUP and the virtual currency used by the Cuban regime reaches 275 CUP.

The new increases, which are part of the eternal dance of the informal currency market on the island, come after a sustained streak of decline in the three currencies.

On social media, numerous Cubans connect the shift that the informal market has taken in recent days with the economic measures announced by the Cuban government this month, including the return to cash payments in foreign currencies in some services.

Exchange rate today 28/07/2024 - 7:30 a.m. in Cuba:

Exchange rate of the dollar USD to CUP according to elTOQUE: 330 CUP.

Exchange rate of the euro EUR to CUP according to TOQUE: 335 CUP.

Exchange rate of MLC to CUP according to TOQUE: 275 CUP.

Equivalences 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 this Sunday, July 28.

1 USD = 330 CUP.

5 USD = 1,650 CUP.

10 USD = 3,300 CUP.

20 USD = 6,600 CUP.

50 USD = 16,500 CUP.

100 USD = 33,000 CUP.

Euros (EUR)

1 EUR: 335 CUP.

€5 EUR = 1,675 CUP.

€10 EUR = 3,350 CUP.

€20 EUR = 6,700 CUP.

€50 EUR = 16,750 CUP.

€100 EUR = 33,500 CUP.

€200 EUR = 67,000 CUP.

€500 EUR = 167,500 CUP.

This information can help those who need to make conversions between these currencies and the Cuban peso today.

There will be no new official exchange rate in Cuba in the short term.

The Cuban Prime Minister, Manuel Marrero Cruz, said last week that they cannot establish a new exchange rate "overnight." The high official argued that a new official exchange rate "would bring a devaluation of the peso and an undesirable impact on inflation, prices, and low wages."

He indicated that at some point there will be a new resizing of the currency market, but warned that it is complex to do so under the current conditions of the economy, and said it will be implemented in a "very gradual manner and with utmost care."

The regime admitted the failure of the official exchange rate of 1x120 imposed in August 2022 as part of the economic restructuring, but has not yet found a way to establish a rate that would eliminate the informal currency market.