The dollar and the euro continue to plummet in the informal Cuban market.
At dawn this Sunday, the value of the dollar has dropped in the Cuban informal market for the fifth consecutive day, according to the report published on November 2 by the independent media elTOQUE.
The U.S. dollar drops to 450 CUP per unit, representing another decline of 10 pesos in its value compared to the previous day, when it also had decreased by another ten units.
The euro also drops today, and it does so significantly: the European currency falls to 510 CUP, which is 15 pesos less than yesterday.
Exchange Rate Evolution
In the case of the MLC, the virtual currency used by the regime, it remains at 205 CUP for the second consecutive day.
Exchange rate today 02/11/2025 - 6:34 a.m. in Cuba:
Dollar exchange rate USD to CUP according to elTOQUE: 450 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 510 CUP.
Exchange rate of MLC to CUP according to elTOQUE: 205 CUP.
Attacks against elTOQUE are escalating: From Sandro Castro to Bruno Rodríguez
In recent hours, elTOQUE has responded to accusations made by Sandro Castro, who recently blamed the platform for “artificially inflating” the dollar rate in the Cuban informal market for financial gain.
The media representatives have dismantled the arguments of Fidel Castro's grandson, exposing what they describe as a strategy of political and discursive manipulation that aims to divert attention from the true actors in the black currency market in Cuba.
In its public response, elTOQUE asserted that its role is not to intervene in, benefit, or harm the informal market, but to reflect its behavior with statistical rigor.
And they add: “If you have doubts, here are the real messages that we verify every day. Go and check them, because tomorrow, if the prices rise again, no matter how many comments and campaigns they create on social media, our arrows will show up again.”
Far from being a speculative actor, elTOQUE targets another group of interest: the Cuban entrepreneurs themselves, which includes Sandro Castro.
According to the platform, “Sandro Castro and many other Cuban entrepreneurs want to establish their own reference rate, a rate that they claim is fairer, but they do not acknowledge that many of these Cuban entrepreneurs are the main players in the illegal foreign exchange market.”
elTOQUE assures that it will not change its stance: it will continue publishing reference rates based on real data, while enduring the pressure of practicing journalism in a country where reporting independently remains a risky endeavor.
In recent hours, Foreign Minister Bruno Rodríguez also attacked the informal currency market, which he attributes to a campaign orchestrated from the U.S. aimed at provoking an economic crisis in Cuba.
According to the official, this is a deliberate strategy of "destabilization" that relies on currency speculation, psychological manipulation, and illicit funding through U.S. federal resources.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this 2nd of November:
1 USD = 450 CUP.
5 USD = 2,250 CUP.
10 USD = 4,500 CUP.
20 USD = 9,000 CUP.
50 USD = 22,500 CUP.
100 USD = 45,000 CUP.
Equivalence of Euro (EUR) banknotes to Cuban Peso (CUP):
1 EUR = 510 CUP.
5 EUR = 2,550 CUP.
10 EUR = 5,100 CUP.
20 EUR = 10,200 CUP.
50 EUR = 25,500 CUP.
100 EUR = 51,000 CUP.
200 EUR = 102,000 CUP.
500 EUR = 255,000 CUP.
Meanwhile, it remains unclear what happened with "the floating rate" announced since late 2024 by Prime Minister Manuel Marrero, who announced changes in order to attempt to narrow the gap between the official and informal values of currencies.
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