The exchange rate today, October 27, 2024, in Cuba shows a relative stability in the values of currencies in the informal market, according to data provided by the independent media outlet elTOQUE.
The US dollar (USD) is quoted at 325 Cuban pesos (CUP), while the euro (EUR) reaches 340 CUP. Meanwhile, the Freely Convertible Currency (MLC) maintains a value of 265 CUP. Below are the equivalents of the various banknotes available in the market:
Dollar (USD):
- 1 USD = 325 CUP
- 5 USD = 1,625 CUP
- 10 USD = 3,250 CUP
- 20 USD = 6,500 CUP
- 50 USD = 16,250 CUP
- 100 USD = 32,500 CUP
Euro (EUR):
- 1 EUR = 340 CUP
- 5 EUR = 1,700 CUP
- 10 EUR = 3,400 CUP
- 20 EUR = 6,800 CUP
- 50 EUR = 17,000 CUP
- 100 EUR = 34,000 CUP
These rates reflect the behavior of currency trading in the Cuban informal market, a key reference for Cubans who conduct transactions outside the official circuit. The stability in the values of these currencies provides a temporary respite in an economic environment marked by uncertainty and monetary tensions.
In recent days, the exchange rate in the Cuban informal market has shown a certain stability, although with some minor adjustments in the reference currencies. According to data from elTOQUE, the U.S. dollar (USD), the euro (EUR), and the freely convertible currency (MLC) have maintained similar values, despite the economic volatility that characterizes Cuba. Below is a summary of the recent behavior of the exchange rates:
On October 24, 2024, the dollar was valued at 325 CUP, the euro at 340 CUP, and the MLC at 265 CUP, figures that align with the current rates. The stability observed during those days contrasts with the fluctuations of previous weeks.
On October 22, 2024, the exchange rates remained the same: 325 CUP for each dollar, 340 CUP for each euro, and 265 CUP for the MLC. According to elTOQUE, these prices did not show significant changes following recent events, such as the passage of Hurricane Oscar and a massive blackout that affected the country.
Days earlier, on October 19, 2024, currency values remained stable, with the dollar at 325 CUP, the euro at 340 CUP, and the MLC at 265 CUP. This period of calm in the market was attributed to the halt of activities following the collapse of the national electrical system.
As of October 9, 2024, the MLC has maintained its exchange rate at 265 CUP, following a sudden drop of five pesos. This decrease in the MLC has remained steady to date, with no significant fluctuations in the value of this currency.
In summary, although Cuba's economic context is marked by high volatility, the past week has shown a trend towards stability in the exchange rate of the main foreign currencies, with the dollar at 325 CUP and the euro at 340 CUP. However, the economic situation remains uncertain, and the observed stability could be impacted by new developments in the short term.
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