This Friday, the euro has hit a staggering 950 Cuban pesos (CUP) in Cuba's informal currency market, marking its highest value in the last 30 days. The European currency continues its upward trend, while the U.S. dollar also makes gains, climbing by 44 pesos within just a week.
Based on CiberCuba's exchange rate data, the euro has increased by 4 pesos compared to the previous day's rate of 946 CUP. In contrast, the U.S. dollar is currently valued at 872 CUP.
Over the past week, the euro has appreciated approximately 34.5 pesos, reflecting an increase of 3.8%. When looking at its monthly progression, the rise is even more significant: 30 days ago, it was around 864 CUP, compared to the current 950.
The monthly difference exceeds 86 pesos, although part of this change may be due to methodological adjustments in the index, necessitating a cautious interpretation.
As of this morning, 100 euros are equivalent to 95,000 Cuban pesos on the informal market, whereas 200 euros equal 190,000 CUP.
U.S. Dollar's Climb in the Cuban Market
The euro maintains a gap of 78 pesos over the U.S. dollar, reinforcing its position as the highest-valued foreign currency among the two main ones traded in Cuba's informal market.
The U.S. dollar also continues its upward trajectory, reaching 872 CUP from the previous 828 pesos recorded seven days ago. This weekly rise of 44 pesos represents roughly a 5.3% increase.
Compared to the prior reference of 858 CUP used in the index, the dollar shows a 14-peso difference.
In the past month, the U.S. dollar has gone from 755 to 872 CUP, an accumulated increase of 117 pesos. However, possible adjustments in the indicator's methodology should be considered when making monthly comparisons.
At current rates, exchanging 100 dollars yields about 87,200 Cuban pesos in the informal market.
Exchange Rates and Official References
The Freely Convertible Currency (MLC) is quoted at 623 CUP.
The previous reference was 725 CUP, indicating a 102-peso difference.
The disparity between informal exchange rates and official rates remains significant. This Friday, the Central Bank of Cuba (BCC) set a reference of 762 CUP per dollar and approximately 851 CUP per euro in its Segment III.
Thus, the informal market's euro is 99 pesos higher than the official rate, while the dollar shows a 110 CUP difference.
Segment III employs a more flexible rate than traditional currency segments, although the existence of an official reference does not guarantee access to foreign currency through banking channels for all applicants.
Informal Market Exchange Rates in Cuba This Friday
Euro (EUR): 950 CUP.
U.S. Dollar (USD): 872 CUP.
MLC: 623 CUP.
Euro to Cuban Peso Conversion
1 EUR = 950 CUP.
5 EUR = 4,750 CUP.
10 EUR = 9,500 CUP.
20 EUR = 19,000 CUP.
50 EUR = 47,500 CUP.
100 EUR = 95,000 CUP.
200 EUR = 190,000 CUP.
U.S. Dollar to Cuban Peso Conversion
1 USD = 872 CUP.
5 USD = 4,360 CUP.
10 USD = 8,720 CUP.
20 USD = 17,440 CUP.
50 USD = 43,600 CUP.
100 USD = 87,200 CUP.
Frequently Asked Questions About Cuba's Informal Currency Market
What is the current exchange rate for the euro in Cuba's informal market?
As of this Friday, the euro is valued at 950 Cuban pesos in the informal market.
How much has the U.S. dollar increased in the past week?
The U.S. dollar has risen by 44 pesos in the past week, reaching 872 CUP.
What is the official exchange rate set by the Central Bank of Cuba?
The Central Bank of Cuba set a reference of 762 CUP per dollar and approximately 851 CUP per euro.