The value of the U.S. dollar climbed once again this Friday in Cuba's informal market. The day also saw increases in the euro and the MLC, while the Cuban peso continued to lose ground against these major currencies.
As of 10:00 a.m., the exchange rate showed the dollar trading at 730 Cuban pesos (CUP), marking a rise of five pesos from the previous day's 725 CUP.
This upward trend has been consistent over recent weeks. Just seven days ago, the dollar stood at 703 CUP, reflecting a gain of 27 pesos during that timeframe.
The increase is even more pronounced when compared to a month ago, when the dollar was valued at about 668 CUP. Since then, it has surged by 62 pesos, reaching its highest level in the past month this Friday.
Similarly, the euro opened higher, trading at 832 CUP, compared to 829 CUP the day before. A week ago, it was valued at 803 CUP, and a month ago, it was around 758 CUP.
With its current rate, the euro maintains a 102-peso lead over the dollar, continuing to be the most valuable currency among the main references in the informal market.
Meanwhile, the MLC was valued at approximately 498 CUP. The previous session saw it at 473 CUP, and a week ago, it was 454 CUP.
Informal Market Rates as of September 25
USD: 730 CUP
EUR: 832 CUP
MLC: 498 CUP
In the official market, Segment III of the Central Bank of Cuba placed the dollar at 678 CUP and the euro at 771 CUP, which are lower values compared to informal trading.
This reflects a discrepancy of 52 pesos per dollar and 61 pesos per euro, highlighting the ongoing gap between both markets.
Dollar to Cuban Peso Conversion
1 USD = 730 CUP
5 USD = 3,650 CUP
10 USD = 7,300 CUP
20 USD = 14,600 CUP
50 USD = 36,500 CUP
100 USD = 73,000 CUP
Euro to Cuban Peso Conversion
1 EUR = 832 CUP
5 EUR = 4,160 CUP
10 EUR = 8,320 CUP
20 EUR = 16,640 CUP
50 EUR = 41,600 CUP
100 EUR = 83,200 CUP
200 EUR = 166,400 CUP
Understanding Cuba's Currency Market Dynamics
Why is the dollar increasing in Cuba's informal market?
The dollar's rise in the informal market is attributed to the ongoing economic challenges and currency devaluation in Cuba, causing a higher demand for stable foreign currencies.
How does the euro compare to the dollar in Cuba?
In Cuba's informal market, the euro is currently valued higher than the dollar, maintaining a 102-peso lead in terms of exchange rate.
What is the official exchange rate of the dollar in Cuba?
According to Segment III of the Central Bank of Cuba, the official exchange rate for the dollar is 678 CUP, which is lower than the informal market rate.