After a week without changes, at dawn this Tuesday the price of the dollar in the informal market increased from 327 to 328 pesos, as reported by the independent media outlet elTOQUE in its daily report.
The average selling price of the US dollar on the black market had not increased since November 4th.
The euro and the Freely Convertible Currency (MLC) remain valued at 345 CUP and 265 CUP, respectively.
Exchange rate today, 12/11/2024, at 4:07 PM in Cuba:
Exchange rate of the USD to CUP according to elTOQUE: 328 CUP.
Euro (EUR) to CUP exchange rate according to elTOQUE: 345 CUP.
Exchange rate of the MLC to CUP according to TOQUE: 265 CUP.
However, the median values published by elTOQUE indicate an increase in the sale of the dollar to 330 CUP, which could materialize in the coming hours with another rise in the informal value of the U.S. dollar.
The average purchase in MLC also decreases to 260 CUP.
Equivalencies of each available bill in euros and US dollars to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on November 12:
1 USD = 328 CUP.
5 USD = 1,640 CUP.
10 USD = 3,280 CUP.
20 USD = 6,560 CUP.
50 USD = 16,400 CUP.
100 USD = 32,800 CUP.
Euro (EUR):
1 EUR: 345 CUP.
5 EUR = 1,725 CUP.
10 EUR = 3,450 CUP.
20 EUR = 6,900 CUP.
50 EUR = 17,250 CUP.
100 EUR = 34,500 CUP.
The prestigious academic journal Applied Economics, known for validating innovative contributions and practical applications in economics on a global scale, recently endorsed the methodology used by the elTOQUE platform to calculate the exchange rate in Cuba's informal currency market.
This recognition highlights the importance of the platform's work, which is constantly besieged by the Cuban regime that seeks to discredit its algorithms and analyses, arguing that they are speculative and do not reflect reality.
The article "Using AI in the Informal Currency Market: Evidence from Cuba" was published in October 2024 and describes the innovative use of artificial intelligence techniques and natural language processing (NLP) to calculate the Representative Rate of the Informal Market (TRMI), reported elTOQUE on its website.
According to the platform, the article outlines the procedure they use to "extract unstructured data from social media and classified sites, where users post their buying and selling offers for currencies."
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