This Monday, Cuba's informal currency market concluded with varied movements: the U.S. dollar held steady at 673 Cuban pesos, the euro saw a decline, settling around 785 CUP, while the Freely Convertible Currency (MLC) climbed to 489 CUP.
The dollar wrapped up the day with an average rate of 673 CUP, stemming from buying offers near 670 CUP and selling offers at 675 CUP. This mirrors the values noted during both the opening and closing on Sunday.
Meanwhile, the euro closed near 785 CUP, with buying offers at 780 CUP and selling offers at 790 CUP. The European currency dipped approximately 2.5 pesos (a 0.3% decrease) compared to the previous day's average.
The MLC, which exists solely in digital form, reached an indicative average value of 489 CUP, with purchase references at 448 CUP and sales at 530 CUP. This marks an increase of 10 pesos (or 2.1%) since Sunday.
Weekly Currency Trends
Over the past week, the dollar has remained fixed at 673 CUP, identical to its rate seven days ago, showing no change.
A week ago, the euro was valued at 790 CUP, reflecting a drop of 5 pesos (0.6%). The MLC, previously at 471 CUP, now shows an indicative rise of 18 pesos (or 3.8%).
Monthly Currency Stability
Throughout the last 30 days, the dollar has fluctuated between a low of 655 CUP and a high of 675 CUP. Its current close at 673 pesos underscores the steadiness observed over the past week.
The euro has varied from 739 to 790 CUP, and despite Monday's drop, it remains near its monthly peak. The MLC has ranged between 425 and 543 CUP, though recent figures should be considered indicative due to limited data availability.
Official Exchange Rate Comparison
The official rate from the Central Bank of Cuba for Segment III—applicable to the population and comparable to the black market—stands at 615 CUP per dollar and 707 CUP per euro this Monday.
In the last month, the official dollar rate increased from 585 to 615 CUP, while the official euro rate rose from 670 to 707 CUP.
Cuban Peso Equivalence for Foreign Bills
U.S. Dollar: 1 USD = 673 CUP
- 5 USD = 3,365 CUP
- 10 USD = 6,730 CUP
- 20 USD = 13,460 CUP
- 50 USD = 33,650 CUP
- 100 USD = 67,300 CUP
Euro: 1 EUR = 785 CUP
- 5 EUR = 3,925 CUP
- 10 EUR = 7,850 CUP
- 20 EUR = 15,700 CUP
- 50 EUR = 39,250 CUP
- 100 EUR = 78,500 CUP
- 200 EUR = 157,000 CUP
- 500 EUR = 392,500 CUP
The informal exchange rates are compiled by CiberCuba through automated analysis of currency buy and sell posts within Telegram and Facebook groups. This index excludes atypical offers and spam, weighting data by recency and updating multiple times daily.
Insight into Cuba's Informal Currency Market
Why did the U.S. dollar remain stable in Cuba's black market?
The U.S. dollar's stability in Cuba's black market can be attributed to consistent buying and selling offers, as well as external economic factors that affect supply and demand.
What caused the euro to decline in value?
The decline in the euro's value may be due to shifts in market demand, coupled with broader economic trends in the Eurozone that affect currency valuation.
How is the MLC valued in Cuba?
The MLC's value is determined through digital transactions and is influenced by its demand for purchasing goods in government-operated stores that accept only this currency.