The dollar opened this Friday once again above 700 Cuban pesos (CUP) in the informal market, a sign that the level reached in recent hours was not, at least for now, a temporary spike. By 10:00 a.m., the U.S. currency was at 703 CUP.
According to the , the dollar has a buying rate of 700 CUP and a selling rate of 705 CUP, with an average value of 703 CUP. Seven days ago, it was quoted at 688 pesos, resulting in an increase of 15 CUP in one week.
The question now is whether the 700 pesos, which just a few days ago seemed like a difficult barrier to reach, are starting to become a common reference for the informal market.
The dollar reached 700 CUP on Thursday morning, a level that marked its highest point in the last 30 days.
Exchange Rate Evolution
Far from backing down after reaching that figure, it ended Thursday at 703 CUP. This Friday, it starts the day at exactly that level again.
Two days are not enough to assert that 700 pesos have definitively become a new floor for the currency, but its persistence around and above that threshold indicates that, for now, the market has not corrected the increase.
Thirty days ago, the dollar was trading around 663 CUP. Compared to that value, the current exchange rate represents a difference of 40 pesos, although the monthly comparison should be approached with caution as it may incorporate methodological adjustments to the index.
The dollar is currently at its highest point in the last 30 days, within a context characterized by a shortage of foreign currency, inflation, low state wages, and the demand for foreign currency to protect savings, emigrate, import goods, or conduct operations in the private sector.
Pressure is not limited to the US dollar. The euro also hits new highs this Friday, reaching 803 CUP, a hundred pesos more than the dollar. Just a week ago, it was at 785 CUP.
On its part, the MLC (Freely Convertible Currency) stands at around 454 CUP, with a buying price of 447 CUP and a selling price of 461 CUP.
- U.S. Dollar (USD): 703 CUP.
- Euro (EUR): 803 CUP.
- MLC: 454 CUP.
The distance from the official market remains significant. The Central Bank of Cuba, in its Segment III, places the dollar this Friday at 667 CUP and the euro at 765 CUP.
This leaves a gap of 36 pesos per dollar and 38 pesos per euro compared to the values in the informal market.
The behavior of the upcoming days will reveal whether the 700 pesos mark will consolidate or if the dollar will drop back again. For now, after touching that figure on Thursday, closing above it, and remaining this Friday at 703 CUP, the 700 has ceased to be just a temporary ceiling.
Equivalence of United States dollar bills (USD) to Cuban peso (CUP)
- 1 USD = 703 CUP
- 5 USD = 3,515 CUP
- 10 USD = 7,030 CUP
- 20 USD = 14,060 CUP
- 50 USD = 35,150 CUP
- 100 USD = 70,300 CUP
Equivalence of euro banknotes (EUR) to Cuban peso (CUP)
- 1 EUR = 803 CUP
- 5 EUR = 4.015 CUP
- 10 EUR = 8,030 CUP
- 20 EUR = 16,060 CUP
- 50 EUR = 40,150 CUP
- 100 EUR = 80,300 CUP
- 200 EUR = 160,600 CUP
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