The U.S. dollar surprised this Sunday with a drop in the informal currency market in Cuba, after several weeks of substantial increases.
While the US dollar loses ground, the euro remains above one thousand Cuban pesos and the MLC (Freely Convertible Currency) records a considerable increase.
At 10:00 a.m., Cuban local time, placed the dollar at 926 Cuban pesos (CUP), the euro at 1,002 CUP, and the MLC at approximately 747 CUP.
The behavior of the dollar is noteworthy as it momentarily breaks the trend of rising prices that has dominated the market in recent weeks. However, the decline this Sunday does not yet indicate a sustained change in trend.
The US dollar is recording an average price of 926 CUP, with buy offers at 911 CUP and sell offers at 940 CUP. Although it has decreased compared to the values from the previous day, it remains 32 pesos higher than its rate a week ago, when it was at 894 CUP.
Exchange Rate Evolution
The comparison with the last 30 days shows an increase of approximately 150 pesos, although part of that variation may be related to methodological adjustments of the index. During that period, the dollar has fluctuated between a minimum of 775 CUP and a maximum of 940 CUP.
The decline this Sunday follows the fact that the dollar closed on Saturday at 933 CUP, while the euro reached 1,010 pesos, on yet another day marked by the loss of value of the national currency.
The euro, for its part, remains the most expensive currency in the Cuban informal market. This Sunday, it is quoted at 1,002 CUP, with a purchase price of 991 CUP and a selling price of 1,012 CUP.
Compared to the reference values from the previous session used in the daily index, the European currency remains virtually stable. However, it has accumulated a weekly increase of 30.5 CUP, which is approximately a 3.1% rise.
In the past 30 days, the euro has recorded quotes between 870 and 1,010 CUP. It currently surpasses the dollar by 76 pesos, a difference that reflects the higher price of the European currency in the parallel market.
The largest percentage variation of the day corresponds to the MLC, which reaches an indicative value of 747 CUP, with purchase offers at 662 CUP and sale offers at 831 CUP.
This quote represents an increase of 87 pesos compared to the previous reference value, equivalent to a rise of 13.2%. In the weekly comparison, the MLC has accumulated an increase of 178.5 CUP.
Exchange rates in Cuba today, Sunday the 8th
- United States Dollar (USD): 926 CUP.
- Euro (EUR): 1,002 CUP.
- MLC: 747 CUP.
The exchange rates in the informal market continue to be above the official rates set by the Central Bank of Cuba for Segment III, which are 800 CUP per dollar and 892 CUP per euro.
The difference reaches 126 pesos per dollar and 110 pesos per euro, highlighting the gap between official references and the prices observed in informal transactions.
During the last month, the official exchange rate has also risen significantly. The dollar increased from 698 to 800 CUP, while the euro climbed from 782 to 892 CUP, with these adjustments not closing the gap with the parallel market.
Equivalence of US dollars to Cuban pesos
- 1 USD = 926 CUP.
- 5 USD = 4,630 CUP.
- 10 USD = 9,260 CUP.
- 20 USD = 18,520 CUP.
- 50 USD = 46,300 CUP.
- 100 USD = 92,600 CUP.
Equivalence of euros to Cuban pesos
- 1 EUR = 1.002 CUP.
- 5 EUR = 5,010 CUP.
- 10 EUR = 10,020 CUP.
- 20 EUR = 20,040 CUP.
- 50 EUR = 50,100 CUP.
- 100 EUR = 100,200 CUP.
- 200 EUR = 200,400 CUP.
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