Dollars, euros, and MLC boast stability in Cuba.

Both the dollar and the euro have remained unchanged in value for more than a week in the average selling price in the Cuban informal market.

Current affairs
CiberCuba Editorial Team

August 13, 2024 - 8:55 AM (GMT-5) |

Dollars, euros, and MLC are showcasing another day of stagnation this Tuesday, where their usual price fluctuations in informal sales in Cuba were.

At 7:00 a.m. (local time) on this August 13, the US dollar is still valued at an average of 320 pesos, while the euro remains at 330 CUP.

The dollar has now accumulated 11 days without rising or falling 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 has shown no signs of movement, according to elToque.

In the case of the euro, this Tuesday marks nine days without rising or falling. The European currency reached 330 CUP on August 5 and has not changed in value since then.

In recent days, only the freely convertible currency (MLC) changed its average selling price. It recorded two consecutive days of declines on August 8 and 9.

However, since the 10th, it has been riding the "stability" wave and has been trading at 275 CUP for the past four days.

Exchange rate today 13/08/2024 - 7:45 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.

MLC to CUP exchange rate according to TOQUE: 275 CUP.

What is happening with the currencies in Cuba?

On social media, many Cubans are closely watching the unexpected halt of foreign currencies in Cuba, which during the first half of the year showed signs of abrupt changes in trends, both upward and downward.

As often happens, some are pleased with the slowdown because they believe it is a halt for inflation and product prices as well, while others regret it. A third group claims that it makes no difference to them since these are currencies they do not have access to.

In recent days, some Cubans have attributed the slowdown to the lack of flights to Nicaragua, which was one of the reasons driving the demand for cash hard currency.

However, others believe that what is happening is that those who have dollars and euros are holding onto them, waiting to see what happens.

However, it is significant that the slowdown in the price of foreign currencies in Cuba has occurred after the threats of imprisonment issued by the regime, which, in an article published in July in Granma, threatened to impose up to five years in prison or a fine of five hundred to one thousand quotas, or both, on those who engage in the buying and selling of currencies on the street.

So far, elToque has not commented on the "stability" of the currencies in recent days.