Exchange rate: Price of currencies in the Cuban informal market for today.

The currencies are experiencing a period of unprecedented stability.

Current Affairs
CiberCuba Writing

September 20, 2024 - 7:39 AM (GMT-5) |

Neither up nor down, the price of currencies remains unchanged this Friday in the Cuban informal market, according to monitoring reported by the independent media elToque.

Despite the median values on September 19 showing an increase in the average selling price of the dollar, the US currency remains on September 20 at the same value it has held since August 3.

The dollar remains priced at 320 CUP, the euro at 330, and the Convertible Currency (MLC) at 270, the latter price reached by the virtual currency on September 14.

Exchange rate today 09/20/2024 - 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: 270 CUP.

The median values for buying and selling published this Friday by the aforementioned independent media show static values for euros and dollars in both buying and selling, but indicate a decrease of two pesos in the median purchase of MLC, which falls from 270 to 268 CUP.

Median values of buying and selling for the three reference currencies in the Cuban informal market (elToque)

Despite the stability in the informal currency market, prices remain high for the population and are indicators of the economic crisis that Cuba is going through, where inflation and the shortage of foreign currency strongly impact the purchasing power of citizens.

The US dollar reached 320 CUP on August 3, and since then, monitoring of classified ads averaging its value in the black market has not recorded any movement, according to elToque.

The European currency, for its part, was established at 330 CUP on August 5 and since then its average selling value has not changed either.

The price stability in recent weeks contrasts with the strong changes of the first seven months of 2024, characterized by fluctuating and abrupt bursts of both price increases and decreases.

The unusual stability of currency prices in the informal market in recent weeks has taken many Cubans by surprise, who are trying to find an explanation behind the phenomenon, which theToque has yet to comment on.