This Thursday, November 12, Cuba's informal currency market presents a mixed picture: the U.S. dollar continues its decline, the euro shows a positive trend, and the Freely Convertible Currency (MLC) also loses ground, albeit with limited trading volume, compared to the previous day.
Current Exchange Rates Overview
USD to CUP: 905 CUP.
EUR to CUP: 990 CUP.
MLC to CUP: 626 CUP (indicative value, limited data).
Dollar's Downward Trend
At 10:00 a.m. local Cuban time, the U.S. dollar is valued at 905 Cuban pesos (CUP) in the informal market, with buying rates around 900 CUP and selling rates approximately 910 CUP. This marks a decrease of three pesos from the previous day, where the average rate was 908 CUP.
A week ago, the dollar stood at 920 pesos, resulting in a cumulative drop of 15 pesos over the past week, equivalent to a 1.6% decrease. Over the past month, the dollar has fluctuated between a low of 788 CUP and a high of 940 CUP. Despite a monthly increase of 117.5 pesos (+14.9%), this figure should be approached cautiously as it may reflect methodological adjustments in the index rather than pure market movements.
Euro's Resurgence
In contrast to the dollar, the euro opens the day trading at 990 CUP, with buying rates at 980 CUP and selling rates at 1,000 CUP. Compared to the previous session, the euro rises by seven pesos (+0.7%) from approximately 983 CUP.
However, over the past week, the euro has also seen a slight decrease: a week ago, it was valued at 1,000 pesos, indicating a weekly drop of 10 pesos (-1%). In the last month, the euro's trading range has been between a minimum of 885 CUP and a maximum of 1,010 CUP, with a 30-day variation of +105 pesos (+11.9%). Like the dollar, these figures may also include adjustments to the index's methodology.
The euro remains the most expensive currency among the primary currencies listed in the index, surpassing the dollar by 85 pesos.
Indicative MLC Values
The MLC hovers around 626 CUP at the start of Thursday, with buying rates near 554 CUP and selling rates about 697 CUP. Compared to the previous day, when it was at 640 CUP, it shows a decrease of 14 pesos (-2.2%).
However, this value should be viewed cautiously: the MLC is noted for its low volume of operations during this time frame, making its price more indicative than definitive. Over the past week, the MLC has fallen by 59 pesos from 685 CUP a week ago (-8.6%), and over the past month, it has ranged from a low of 519 CUP to a high of 795 CUP. Without physical currency, its use is restricted to state-run stores that accept it, limiting its circulation compared to cash currencies.
Disparity with Official Exchange Rates
The official exchange rate set by the Central Bank of Cuba (Segment III) on November 12 stands at 820 CUP per dollar and 910 CUP per euro, remaining below the values recorded in the informal currency market. The gap between official and informal prices reaches 85 pesos for the dollar and 80 pesos for the euro.
Over the last month, the official dollar rate has climbed from 702 to 820 CUP, and the euro from 783 to 910 CUP. Despite these increases, both official rates remain lower than the informal rates observed this Thursday.
Currency Conversion Reference
USD to CUP Conversion:
1 USD = 905 CUP.
5 USD = 4,525 CUP.
10 USD = 9,050 CUP.
20 USD = 18,100 CUP.
50 USD = 45,250 CUP.
100 USD = 90,500 CUP.
EUR to CUP Conversion:
1 EUR = 990 CUP.
5 EUR = 4,950 CUP.
10 EUR = 9,900 CUP.
20 EUR = 19,800 CUP.
50 EUR = 49,500 CUP.
100 EUR = 99,000 CUP.
200 EUR = 198,000 CUP.
Methodology
The CiberCuba Exchange Rate Index for Cuba's informal market is created through automated analysis of thousands of currency trading posts in Telegram and Facebook groups. It filters out atypical offers and spam, weights each operation by its timeliness, and consolidates a representative value that is updated several times a day.
Understanding Cuba's Currency Market Dynamics
Why is the U.S. dollar declining in Cuba's informal market?
The decline in the U.S. dollar may be attributed to various factors, including changes in demand and supply dynamics, shifts in economic policy, or adjustments in the methodology used to track currency values in the informal market.
How does the euro compare to the U.S. dollar in Cuba?
Currently, the euro is more expensive than the U.S. dollar in Cuba's informal market, trading at 990 CUP compared to the dollar's 905 CUP. This makes the euro the priciest among the main currencies listed in the informal market index.
What is the Freely Convertible Currency (MLC) in Cuba?
The MLC is a virtual currency used mainly for transactions in certain state-run stores in Cuba. It is not available as physical currency and is subject to limited trading, making its valuation more indicative than definitive.