The informal currency market in Cuba started this Friday with stability for the two main foreign currencies.
The US dollar remains at 665 Cuban pesos and the euro continues at 760 pesos, while the MLC (Freely Convertible Currency) rises to 457 pesos.
The opening data collected by CiberCuba shows that both the dollar and the euro have the exact same average values as the previous day. In contrast, the MLC rises from 450 to 457 pesos, an increase of 6.5 pesos, equivalent to a 1.4%.
The tranquility of this Friday comes after several days in which the dollar, and especially the euro, have lost ground. A week ago, the dollar averaged 673 pesos, so it is currently 7.5 pesos lower, a decline of 1.1%.
Exchange Rate Evolution
The weekly decline is more pronounced for the European currency. The euro was at 784 pesos seven days ago and is now around 760, which represents a decrease of 23.5 pesos, approximately 3%.
The MLC has taken a different path. Its reference value was 446 pesos a week ago, so it has now increased by 10.5 pesos, equivalent to 2.4%.
What has happened in the last month?
The comparison with 30 days ago presents a different picture. The dollar was then at 655 pesos and is now 10 pesos higher, an increase of 1.5%. During that period, it has fluctuated between a low of 655 and a high of 675 pesos.
The euro, for its part, was at 755 pesos a month ago, just five pesos less than now. The monthly variation is approximately 0.7%, with a minimum of 755 and a maximum of 790 pesos over the last 30 days.
The MLC shows the most notable difference during this period: 30 days ago it was at 488 pesos, compared to the current 457, a decrease of 31 pesos or 6.4%. In the last month, it has fluctuated between 413 and 496 pesos.
The monthly comparison should also be interpreted with some caution, as part of the differences over 30 days may be related to adjustments in the methodology used to compile the index, rather than solely market movements.
The dollar and the euro remain above the official rate
The official rate of the Central Bank of Cuba for Segment III, effective as of August 14 and comparable to the informal market, places the dollar at 624 CUP and the euro at 720 CUP.
This leaves the informal dollar 41 pesos above the official reference and the informal euro 40 pesos above. The MLC does not have a comparable official rate.
What is the value of each bill in Cuban pesos?
Taking the average value of 665 CUP per dollar as a reference, the approximate equivalences in the informal market are:
- 1 USD = 665 CUP
- 5 USD = 3.325 CUP
- 10 USD = 6.650 CUP
- 20 USD = 13,300 CUP
- 50 USD = 33,250 CUP
- 100 USD = 66,500 CUP
For the euro, with an average reference of 760 CUP, the equivalents are:
- 1 EUR = 760 CUP
- 5 EUR = 3,800 CUP
- 10 EUR = 7.600 CUP
- 20 EUR = 15,200 CUP
- 50 EUR = 38,000 CUP
- 100 EUR = 76,000 CUP
- 200 EUR = 152,000 CUP
- 500 EUR = 380,000 CUP
The MLC is exclusively digital, so there are no banknotes or equivalents in denominations.
Filed under: