The euro opened this Friday with a sudden increase of five pesos in the average selling price in the Cuban informal market after remaining unchanged for more than seven weeks. The European currency rises from 330 to 335 CUP.
The euro last recorded movement on August 5, and since that date, the currency of the European Union had not experienced any type of modification in the informal selling market in Cuba.
The dollar and the freely convertible currency (MLC), for their part, continue unchanged in their values on September 27: the US currency at 320 and the virtual currency used by the Cuban government at 270, a price that the MLC has maintained since September 14.
The rise of the euro comes in the same week that the dollar also experienced a first movement, in its case on Monday, when it temporarily rose to 322 CUP, breaking a streak of 52 days at 320 CUP.
However, those who hoped that the U.S. dollar would start a streak of increases were left wanting for the temporary rise to set a trend, as the next day it returned to 320.
Exchange rate today 09/27/2024 - 7:25 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: 335 CUP.
Exchange rate of MLC to CUP according to El TOQUE: 270 CUP.
The median values today from elToque reliably confirm the rise of the euro, but do not indicate that the dollar could rise soon, as both the buying and selling median are at 320 pesos.
Equivalences of each available euro and US dollar banknote to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this September 26:
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 = 335 CUP.
5 EUR = 1.675 CUP.
10 EUR = 3,350 CUP.
20 EUR = 6,700 CUP.
50 EUR = 16,750 CUP.
100 EUR = 33,500 CUP.
Despite the stability in the informal currency market in the last two months, prices remain high for the population and are indicators of the economic crisis that Cuba is experiencing, where inflation and the shortage of foreign currency are impacting the purchasing power of citizens.
The price stability in recent weeks contrasts with the strong changes during the first seven months of 2024, characterized by abrupt streaks of both price increases and decreases.
What do you think?
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