Evolution of currency prices in the Cuban informal market

How has the exchange rate evolved following Hurricane Rafael and the recent collapse of the SEN?

Current Affairs
CiberCuba Editorial Team

08/11/2024 - 12:38pm (GMT-5) |

The average informal selling price of foreign currency in Cuba has remained unchanged in recent days.

At the moment, the prices of dollars, euros, and MLC have not shown any changes in either direction.

There has been no response to the recent onslaught of Hurricane Rafael in western Cuba, nor to the new collapse of the National Electricity System (SEN).

Perhaps due to those significant events that have hindered access to electricity and communications in general, there is no reaction from the currency to the always challenging daily context in Cuba.

It is important to note that price fluctuations are documented by the independent media outlet elTOQUE based on classified ads for buying and selling on social media for the three reference currencies on the island.

At dawn this Friday, dollars, euros, and MLC maintain the same values as in the last five days.

The European currency remains at 345 CUP, while the dollar is at 327.

In the case of the Convertible Currency, it remains at 265 CUP.

However, the median values published by elTOQUE indicate an increase in the dollar's selling price to 328 CUP, which could materialize in the coming hours with a further rise in the informal value of the U.S. currency.