At dawn on this Saturday, November 30, the last day of the month, the exchange rates in Cuba remain the same as the previous day.
Regarding the dollar, it is valued at 328 pesos, which has been its predominant rate since November 12.
In the case of the euro, the European currency maintains this Saturday the 343 CUP it reached earlier this week. This marks a slight step back after remaining at 345 CUP for more than 21 days.
Finally, the Freely Convertible Currency (MLC) maintains its value at 265 pesos, a figure that only rose for one day in the last month, reaching 269 for a few hours.
Paralysis of the Cuban informal market
In general, during the month of November, the currency trading market in Cuba has experienced few changes, something that had already been anticipated by the Observatory of Currencies and Finances of Cuba (OMFi).
According to the latest report from the OMFi, the worsening economic crisis in the country has caused a "paralyzing effect" on the buying and selling of currencies in the black market.
“The sharp escalation of the economic crisis in 2024 has had a paralyzing effect on the informal currency market. The reduced volume of tourists, imports, and the overall decline in economic activity across all sectors have resulted in a contraction of both supply and demand for foreign currency,” stated Cuban economist Pavel Vidal, who is based in Colombia.
The specialist also predicted that the current stagnation of the informal market will persist in the short term.
Exchange rate today 30/11/2024 - 15:59 a.m. in Cuba:
Exchange rate of the dollar USD to CUP, according to elTOQUE: 328 CUP.
Exchange rate of the euro EUR to CUP, according to elTOQUE: 343 CUP.
Exchange rate of the MLC to CUP, according to TOQUE: 265 CUP.
The median values for buying and selling published by El Toque show some movements in recent hours: the sale of the euro drops to 343, while for the dollar, both the buying price decreases (to 326 CUP) and the selling price (to 328).
The median of the MLC shows no change.
Equivalents of each available banknote in euros and US dollars to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of November 30:
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 = 343 CUP.
5 EUR = 1,715 CUP.
10 EUR = 3,430 CUP.
20 EUR = 6,860 CUP.
50 EUR = 17,150 CUP.
100 EUR = 34,300 CUP.
Frequently Asked Questions about the Informal Currency Market in Cuba
How has the informal currency market in Cuba behaved during November 2024?
During November 2024, the informal currency market in Cuba has exhibited an unusual stability. The exchange rates for the dollar, euro, and freely convertible currency (MLC) have remained virtually unchanged, reflecting a paralyzing effect stemming from the economic crisis the country is experiencing.
What are the current exchange rates for the main currencies in the Cuban informal market?
As of November 30, 2024, the dollar is valued at 328 Cuban pesos (CUP), the euro at 343 CUP, and the freely convertible currency (MLC) at 265 CUP. These values have shown little variation in recent weeks.
What factors have influenced the lack of movement in the Cuban currency market?
The worsening of the economic crisis in Cuba has had a paralyzing effect on the informal currency market. The decline in tourism, imports, and economic activity overall has resulted in a contraction of both the supply and demand for foreign currency.
What do experts predict about the future of the informal currency market in Cuba?
According to Cuban economist Pavel Vidal, the current stagnation of the informal currency market is expected to persist in the short term. The economic crisis and the lack of significant changes in the supply and demand for foreign currency hinder a swift recovery of the market.
How does the economic situation in Cuba affect the purchasing power of the population?
The economic crisis in Cuba, characterized by inflation and a shortage of foreign currency, negatively affects the purchasing power of citizens. High prices in the informal currency market reflect this situation, limiting the buying capacity of the population amid a stagnant economy.
Filed under: