The informal currency market in Cuba closed this Monday with an unexpected turn: both the dollar and the euro decreased, while the MLC (Freely Convertible Currency) saw a significant increase, although there is little data available to support that movement.
According to , at 8:00 PM local Cuban time, the US dollar stood at 770 Cuban pesos (CUP), the euro decreased to 872 CUP, and the MLC was around 578 CUP.
The dollar dropped 15 pesos in one day, after closing on Sunday at 785 CUP. Despite the fall this Monday, it maintains a weekly upward trend: seven days ago it was trading at 745 CUP, so it has accumulated an increase of 25 pesos during that period.
The 30-day comparison shows the greenback at 683 CUP a month ago, compared to the current 770 CUP. During that period, the dollar has fluctuated between a low of 683 CUP and a high of 785 CUP.
Exchange Rate Evolution
The euro also lost ground this Monday, falling from 879 to 872 CUP, a drop of 7 pesos. Nonetheless, it continues to be quoted at 102 pesos above the dollar.
In the past seven days, the European currency has risen by 22 pesos, up from the 850 CUP recorded a week ago. Over the last 30 days, it has fluctuated between a low of 775 CUP and a high of 885 CUP.
The strongest movement of the day corresponded to the MLC, which rose from 532 to approximately 578 CUP, an increase of 46 pesos, equivalent to around 8.6%.
- United States Dollar (USD): 770 CUP.
- Euro (EUR): 872 CUP.
- The MLC: 578 CUP.
The informal exchange rate continues to exceed the official rate set by the Central Bank of Cuba for Segment III, which stands at 695 CUP per dollar and 783 CUP per euro.
This results in a difference of 75 pesos per dollar and 89 pesos per euro between the informal market and the official exchange rate.
Although the drop this Monday brings some relief after days of significant increases, the overarching trend continues to show pressure on the Cuban peso. In just 30 days, the dollar has gained 87 pesos against the CUP.
Equivalence of US dollar (USD) bills to Cuban peso (CUP) this Monday
- 1 USD = 770 CUP
- 5 USD = 3,850 CUP
- 10 USD = 7,700 CUP
- 20 USD = 15,400 CUP
- 50 USD = 38,500 CUP
- 100 USD = 77,000 CUP
Euro (EUR) to Cuban peso (CUP) exchange rate this Monday
- 1 EUR = 872 CUP
- 5 EUR = 4,360 CUP
- 10 EUR = 8,720 CUP
- 20 EUR = 17,440 CUP
- 50 EUR = 43,600 CUP
- 100 EUR = 87,200 CUP
- 200 EUR = 174,400 CUP
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