The dollar and euro rise again in the informal currency market in Cuba this Sunday: at 10:00 a.m. local time, the U.S. currency reaches an average value of 916 Cuban pesos (CUP), while the euro stands at 988 CUP, once again nearing the 1,000 pesos barrier. In contrast, the MLC (Freely Convertible Currency) falls to 538 CUP.
According to the data from the , compiled from the analysis of currency trading posts in Telegram and Facebook groups, both the dollar and the euro have seen increases compared to Saturday.
The movements come after a week of setbacks for both currencies and in a context of ongoing pressure on the Cuban peso.
The U.S. dollar is being quoted this Sunday at 916 CUP as an average value, with a buying reference of 912 CUP and a selling reference of 920 CUP.
The figure exceeds the 913 CUP recorded during the previous day, although it is still below the 926 CUP recorded seven days ago.
Exchange Rate Evolution
Compared to 30 days ago, the dollar has risen by 117.5 pesos, equivalent to 14.7%. During that period, the U.S. currency has fluctuated between a low of 800 CUP and a high of 940 CUP.
However, part of the monthly variation may be due to methodological adjustments of the index and not solely to market movements.
For its part, the euro reaches 988 CUP as its average value, with a purchase reference of 976 CUP and a selling reference of 999 CUP. The European currency also shows an increase compared to Saturday, when it was around 985 CUP.
Despite the increase this Sunday, the euro is still 14 pesos below the 1,002 CUP recorded a week ago, a decline of 1.4%.
In the last 30 days, however, it has accumulated a profit of 92.5 pesos, equivalent to 10.3%, although this comparison may also be influenced by methodological changes.
The euro continues to be the most expensive currency in the Cuban informal market, with a difference of 72 pesos compared to the dollar. Over the past month, its exchange rate has fluctuated between 895 CUP and 1,010 CUP.
The situation is different for the MLC, which this Sunday presents an average indicative value of 538 CUP. The buying and selling references are set at 568 CUP and 507 CUP, respectively.
Regarding the previous session, the average value of the MLC decreased by 11.5 pesos, equivalent to 2.1%. The weekly drop is much more pronounced: 209 pesos less than seven days ago, when it was at 747 CUP. This represents a decrease of 28%.
In the last 30 days, the MLC has accumulated a decrease of 82 pesos, equivalent to 13.2%. During that period, its value has fluctuated between 405 CUP and 795 CUP.
Dollar, euro, and MLC prices in Cuba this Sunday
United States Dollar (USD): 916 CUP.
Euro (EUR): 988 CUP.
MLC: 538 CUP.
The difference with the official exchange rate in Cuba
The gap between informal exchange rates and official rates remains substantial. The Central Bank of Cuba maintains a reference rate for Segment III of 832 CUP per dollar and 920 CUP per euro, values that are lower than those recorded this Sunday in the parallel market.
In the case of the dollar, the difference between both rates reaches 84 pesos, while for the euro it is 68 CUP. This gap reflects the disparities between official values and the reference prices of informal operations.
Although Segment III was introduced as a more flexible currency mechanism, the differences in exchange rates indicate that the informal market remains an important reference for those who need to buy or sell foreign currency outside of official channels.
Amid inflation, low state salaries, and the increasing partial dollarization of the Cuban economy, the fluctuations of the dollar and the euro have consequences for the purchasing power of those earning their income in Cuban pesos.
Equivalence of the United States dollar (USD) to Cuban pesos (CUP)
1 USD = 916 CUP
5 USD = 4,580 CUP
10 USD = 9,160 CUP
20 USD = 18,320 CUP
50 USD = 45,800 CUP
100 USD = 91,600 CUP
Equivalence of the euro (EUR) to Cuban pesos (CUP)
1 EUR = 988 CUP
5 EUR = 4,940 CUP
10 EUR = 9,880 CUP
20 EUR = 19,760 CUP
50 EUR = 49,400 CUP
100 EUR = 98,800 CUP
200 EUR = 197,600 CUP
Filed under: