The foreign exchange market operating outside the boundaries set by the Cuban regime continues to dictate the exchange rates on the island, which are followed by both sellers and buyers. The market has shown relative stability, with no significant fluctuations for several days.
Currently, the US Dollar (USD) is trading at 320 Cuban pesos (CUP), while the Euro (EUR) has reached 330 CUP. Meanwhile, the Freely Convertible Currency (MLC) is valued at 270 CUP since last Saturday.
Despite this stability, the prices remain high for the population relying on government salaries, which are a minimum of 2,100 CUP. This means that state workers, pensioners, and all those without income in dollars are edging closer to the threshold of extreme poverty. A Cuban earning only the minimum wage is making the equivalent of just 6.66 USD.
Current Exchange Rates as of September 17, 2024 – 12:36 PM in Cuba
US Dollar (USD) to CUP according to elTOQUE: 320 CUP
Euro (EUR) to CUP according to elTOQUE: 330 CUP
MLC to CUP according to elTOQUE: 270 CUP
Available Banknotes and Their Value in Cuban Pesos (CUP)
US Dollar (USD):
1 USD = 320 CUP
5 USD = 1,600 CUP
10 USD = 3,200 CUP
20 USD = 6,400 CUP
50 USD = 16,000 CUP
100 USD = 32,000 CUP
Euro (EUR):
1 EUR = 330 CUP
5 EUR = 1,650 CUP
10 EUR = 3,300 CUP
20 EUR = 6,600 CUP
50 EUR = 16,500 CUP
100 EUR = 33,000 CUP
Frequently Asked Questions about Cuba’s Informal Currency Market
In light of the ongoing economic challenges in Cuba, many have questions regarding the current currency exchange rates and their implications. Here are some of the most commonly asked questions and their answers.
What is the current exchange rate for the US Dollar (USD) in Cuba’s informal market?
As of September 17, 2024, the exchange rate for the US Dollar (USD) is 320 Cuban pesos (CUP).
How much is the Euro (EUR) worth in Cuban pesos (CUP) in the informal market?
The Euro (EUR) is currently valued at 330 Cuban pesos (CUP) in the informal market.
What is the value of the Freely Convertible Currency (MLC) in Cuba?
The Freely Convertible Currency (MLC) is currently valued at 270 Cuban pesos (CUP).
Why are the exchange rates in Cuba’s informal market so high?
The high exchange rates are a result of economic instability, inflation, and the Cuban government’s restrictive financial policies, which drive the demand for foreign currencies.
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Publish date : 2024-09-17 05:54:00
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