More than seven weeks, exactly 52 days after the selling price of the dollar last rose in the Cuban informal market, the value of the U.S. currency experiences an increase this Monday.
The dollar increases from 320 to 322 CUP, two pesos more than the value it had maintained without variations since August 3.
The euro and the Freely Convertible Currency (MLC), for their part, start this September 23 unchanged: the European currency is valued at 330 and the virtual currency that the Cuban government operates at 270, the latter price that the MLC reached on September 14.
Exchange rate today 09/23/2024 - 7:33 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 322 CUP.
Euro exchange rate EUR to CUP according to elTOQUE: 330 CUP.
Exchange rate of MLC to CUP according to the TOQUE: 270 CUP.
Equivalences of each available euro and US dollar bill to Cuban pesos (CUP)
US Dollar (USD) to Cuban Peso (CUP), according to the exchange rates of September 23rd:
1 USD: 322 CUP.
5 USD: 1,610 CUP.
10 USD: 3,220 CUP.
20 USD: 6,440 CUP.
50 USD: 16,100 CUP.
100 USD: 32,200 CUP.
Euros (EUR):
1 EUR: 330 CUP.
5 EUR = 1,650 CUP.
10 EUR = 3,300 CUP.
20 EUR = 6,600 CUP.
50 EUR = 16,500 CUP.
100 EUR = 33,000 CUP.
200 EUR = 66,000 CUP.
500 EUR = 165,000 CUP.
Despite the stability in the informal currency market over the past two months, prices have remained high for the population and are indicators of the economic crisis that Cuba is going through, where inflation and the shortage of foreign currency have a strong impact on the purchasing power of citizens.
The price stability in recent weeks contrasted with the sharp changes of the first seven months of 2024, characterized by fluctuating and abrupt streaks of both price increases and decreases.
The unusual stability of the exchange rate in the informal market in recent weeks had caught many Cubans by surprise, who were trying to find an explanation behind the phenomenon.
We have to wait and see now if the two peso increase of the dollar is a one-time occurrence or if it will establish a trend.
What do you think?
COMMENTFiled under:
