After five days of absolute stability in average selling prices in the Cuban informal market, one of the currencies has seen a significant increase this Monday morning.
The freely convertible currency (MLC) has increased by four pesos compared to its value in recent days, now standing at 269 CUP.
Euros and dollars remain, as of the closing of this report, at their values from the past few days.
The US dollar is still valued at 328 pesos, the euro at 345 CUP, and the euro.
Exchange rate today, November 14, 2024 - 8:30 a.m. in Cuba:
Exchange rate of the Dollar USD to CUP according to TOQUE: 328 CUP.
Exchange rate of the Euro (EUR) to CUP according to TOQUE: 345 CUP.
Exchange rate of MLC to CUP according to TOQUE: 265 CUP.
This space, beyond the official exchange rates, reflects citizens' perceptions of the economy and the availability of foreign currency in the country.
The rates in the informal market remain significantly higher than the official ones, intensifying the economic pressure on Cuban families.
While this period of stability is a relief, experts warn that the informal market remains highly sensitive to external events, such as the arrival of remittances in December or potential announcements of changes in the country's economic policy, which typically occur at the end of the year during the sessions of the National Assembly of People's Power.
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 as of November 18:
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 worldwide, recently endorsed the methodology used by elTOQUE to calculate the exchange rate in Cuba's informal currency market.
The article "Using AI in the Informal Currency Market: Evidence from Cuba" was published in October 2024 and described the innovative application of artificial intelligence techniques and natural language processing (NLP) to calculate the Representative Rate of the Informal Market (TRMI), as reported by elTOQUE on its website.
This recognition underscored the significance of the work done by this outlet, which in recent years has been persistently targeted by the Cuban regime, determined to discredit its algorithms and analyses by arguing that they are speculative and do not reflect reality.
Archived in:
