The slowdown in the price of dollars and euros in Cuba is confirmed.

Dollars and euros have gone many days without price changes in the average sale in Cuba.

Current Affairs
CiberCuba Editorial Team

10/08/2024 - 8:03am (GMT-5) |

Dollars and euros are increasing this Saturday the slowdown of their price fluctuations in the Cuban informal market.

At 7:00 a.m. (local time) on this August 10, the US dollar is still valued on average at 320 pesos, while the euro remains at 330 CUP, with a difference of ten pesos between them.

An interesting fact is that the dollar has now been stable for eight days without increasing or decreasing in price.

The US dollar reached 320 CUP on August 3, and since then, monitoring of classified ads averaging its price in the informal market shows no movement, according to elToque.

In the case of the euro, it has not risen or fallen for six days. The European currency reached 330 CUP on August 5 and has not changed its value since then.

In recent days, only the Freely Convertible Currency (MLC) has varied its average selling price, totaling two consecutive days of declines. However, this Saturday adds to the stability and is trading at 275 CUP, the same price it reached the previous day.

The stability of recent days in the informal market comes after an article published in Granma last week threatened Cubans who resort to buying and selling foreign currency on the street with up to five years in prison.

"These actions are punishable by imprisonment of two to five years, or a fine of five hundred to one thousand quotas, or both," pointed out the official source. It also noted that any transaction involving the sale, transfer, transmission, or acquisition of foreign currency "is illegal and constitutes a crime."

Exchange rate today 10/08/2024 - 7:22 a.m. in Cuba:

Exchange rate of the dollar USD to CUP according to elTOQUE: 320 CUP.

Exchange rate of the euro EUR to CUP according to elTOQUE: 330 CUP.

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

The question that many are asking now is whether this data truly represents a slowdown in the price of foreign currencies in Cuba or if the recent threats issued by the regime have prompted a change in strategy regarding the informal buying and selling of reference currencies, mainly the dollar and the euro.