For the second consecutive day this Wednesday, after a brief increase that lasted only one day, the dollar is again valued at 320 pesos in the Cuban informal market.
Those who were encouraged by the rise to 322 CUP that the US dollar recorded on Monday -which broke a streak of 52 days at 320 CUP- were left wanting that the momentary increase would set a trend.
The euro and the freely convertible currency (MLC) also remain unchanged this September 25: the European currency is priced at 330 and the virtual currency used by the Cuban government is at 270, the latter price reached by the MLC on September 14.
Exchange rate today 09/25/2024 - 7:50 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.
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 of this September 25:
1 USD = 320 CUP.
5 USD = 1,600 CUP.
10 USD = 3,200 CUP.
20 USD = 6,400 CUP.
50 USD = 16,000 CUP.
100 USD = 32,000 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 continued to be high for the population and indicators of the economic crisis that Cuba is experiencing, where inflation and the shortage of foreign currency strongly impact the purchasing power of citizens.
The price stability in recent weeks contrasts with the strong changes in the first seven months of 2024, characterized by oscillating and abrupt streaks of both price increases and decreases.
The unusual stability of currency prices in the informal market in recent weeks has surprised many Cubans, who are trying to find an explanation behind the phenomenon.
However, data from elToque reveals that the increase of two pesos in the dollar was occasional and that, for the moment, such a movement does not indicate a rising trend in the American currency.
What do you think?
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