On Monday, the euro showed movement again in Cuba's informal market, closing the day just shy of 780 pesos, while the US dollar remained relatively unchanged.
By 8:00 p.m., the US dollar ended at 683 Cuban pesos (CUP), virtually the same as the previous day's rate. The greenback has been hovering in a high range for several days now, with minimal fluctuations.
Just a week ago, it was around 678 CUP, and over the past month, it has fluctuated between 663 and 684 CUP. Currently, the dollar is neither declining sharply nor making any significant leaps.
The euro, however, gained a slight boost on Monday, closing at 778 CUP compared to 775 the day before.
This puts the European currency just two pesos away from the 780 CUP mark, a figure it has reached at times over the past month. During this period, its lowest value was 746 CUP.
Currency Comparison and Market Trends
The gap between these two major currencies remains substantial: a euro currently costs about 95 pesos more than a dollar in the informal market.
Meanwhile, the freely convertible currency (MLC) was approximately 454 CUP on Monday. Its behavior remains much more erratic.
1 USD = 683 CUP
1 EUR = 778 CUP
1 MLC = 454 CUP
In contrast, the official rates from Segment III of the Central Bank of Cuba are still lower than those seen among private individuals: 640 CUP per dollar and 744 CUP per euro.
This results in a difference of 43 pesos per dollar between the official and informal rates, while for the euro, the gap is around 34 pesos.
Future Prospects for the Euro
For now, the dollar seems to have taken a pause around the 683 CUP mark. The euro, on the other hand, is once again nearing 780 and raises the question of whether it will surpass this barrier in the coming days.
USD to Cuban Peso (CUP) Conversion
1 USD = 683 CUP
5 USD = 3,415 CUP
10 USD = 6,830 CUP
20 USD = 13,660 CUP
50 USD = 34,150 CUP
100 USD = 68,300 CUP
Euro (EUR) to Cuban Peso (CUP) Conversion
1 EUR = 778 CUP
5 EUR = 3,890 CUP
10 EUR = 7,780 CUP
20 EUR = 15,560 CUP
50 EUR = 38,900 CUP
100 EUR = 77,800 CUP
200 EUR = 155,600 CUP
Frequently Asked Questions About the Cuban Currency Market
What is the current exchange rate for the US dollar in the Cuban informal market?
The US dollar is currently trading at 683 Cuban pesos (CUP) in the informal market.
How does the euro compare to the US dollar in Cuba's informal market?
The euro is significantly more expensive, costing about 95 pesos more than the US dollar in the informal market.
What are the official exchange rates from the Central Bank of Cuba?
The Central Bank of Cuba's official rates are 640 CUP per dollar and 744 CUP per euro.