According to the latest update from elToque, there has been a significant drop in exchange rates today. We will tell you about it below.
The informal currency market in Cuba has registered an important change today: the Freely Convertible Currency (MLC) has experienced a fall of 5 CUP, standing at 270 CUP, according to the latest report from theTouch.
Despite this, the euro and dollar rates remain unchanged, trading at 330 CUP and 320 CUP, respectively. This slight fluctuation in the MLC has generated expectations among Cubans who depend on these currencies to make purchases of basic necessities.
What is driving the decline of MLC?
Table of Contents
- 0.1 What is driving the decline of MLC?
- 0.2 Other references
- 0.3 Currency conversion to MLC and CUP
- 0.4 Market projections for September
- 1 – What factors contributed to the recent drop in the Freely Convertible Currency (MLC) exchange rate in Cuba?
- 2 – How does the fluctuation in the MLC impact the daily lives of Cubans?
Table of Contents
Market analysts attribute the recent fall in the MLC to the fluctuation in demand for this currency, especially due to restrictions on the private sector, which have reduced the need for foreign currency for the import of goods. These restrictions, which have affected small and medium-sized companies, have caused a change in the usual dynamics of the foreign exchange market on the island.
According to the Cuban Currency and Finance Observatory (OMFi), the demand for dollars and euros has remained relatively stable in recent weeks. However, the reduction in private sector imports has contributed to the slight fall of the MLC, which until today remained at higher levels.
Other references
In addition to the data provided by theTouchother currency buying and selling platforms, such as the group MLC exchange —the largest Telegram for buying and selling currencies in Cuba—, show a slight difference in the value of the dollar.
On this particular platform, the dollar is quoted at 321 CUP, one CUP above the elToque rate. This difference reflects the strong demand for the dollar in informal sectors, especially for the purchase of products abroad and remittances.
Currency conversion to MLC and CUP
Below are the most recent conversions for Euro and Dollar to MLC, based on current informal market rates:
- Euro and MLC:
- 1 EUR = 1.22 MLC
- 5 EUR = 6.10 MLC
- 10 EUR = 12.20 MLC
- 20 EUR = 24.40 MLC
- 50 EUR = 61.00 MLC
- 100 EUR = 122.00 MLC
- Dollar to MLC:
- 1 USD = 1.18 MLC
- 5 USD = 5.90 MLC
- 10 USD = 11.80 MLC
- 20 USD = 23.60 MLC
- 50 USD = 59.00 MLC
- 100 USD = 118.00 MLC
The equivalents in Cuban pesos (CUP) for different amounts of euros, dollars and MLC are as follows:
- United States Dollar (USD) to Cuban Peso (CUP):
- 10 USD = 3,200 CUP
- 20 USD = 6,400 CUP
- 50 USD = 16,000 CUP
- 100 USD = 32,000 CUP
- Euro (EUR) to Cuban Peso (CUP):
- 10 EUR = 3,300 CUP
- 20 EUR = 6,600 CUP
- 50 EUR = 16,500 CUP
- 100 EUR = 33,000 CUP
- Freely Convertible Currency (MLC) to Cuban Peso (CUP):
- 10 MLC = 2,700 CUP
- 20 MLC = 5,400 CUP
- 50 MLC = 13,500 CUP
- 100 MLC = 27,000 CUP
Market projections for September
Despite the fall in the MLC, some experts project a slight increase in the value of the dollar throughout the month of September, with a possible fluctuation between 332 and 345 CUP.
This could be related to the decrease in foreign currency in the private sector and the growing needs of the population to purchase goods and services in foreign currency.
The Cuban market continues to face significant challenges, especially in an economic context of high inflation and lack of structural reforms. Uncertainty surrounding currency stability could lead to further fluctuations in exchange rates in the coming weeks.
#Price #dollar #Euro #MLC
– What factors contributed to the recent drop in the Freely Convertible Currency (MLC) exchange rate in Cuba?
Cuba’s Informal Currency Market Sees Significant Drop in Exchange Rates
According to the latest update from elToque, the informal currency market in Cuba has witnessed a notable drop in exchange rates today. The Freely Convertible Currency (MLC) has fallen by 5 CUP, standing at 270 CUP. While the euro and dollar rates remain unchanged, trading at 330 CUP and 320 CUP, respectively, this slight fluctuation in the MLC has generated expectations among Cubans who depend on these currencies to make purchases of basic necessities.
What’s Behind the Decline of MLC?
Market analysts attribute the recent fall in the MLC to the fluctuation in demand for this currency, particularly due to restrictions on the private sector, which have reduced the need for foreign currency for the import of goods. These restrictions, which have affected small and medium-sized companies, have caused a change in the usual dynamics of the foreign exchange market on the island. The Cuban Currency and Finance Observatory (OMFi) reports that the demand for dollars and euros has remained relatively stable in recent weeks. However, the reduction in private sector imports has contributed to the slight fall of the MLC, which until today remained at higher levels.
Other References
In addition to the data provided by elToque, other currency buying and selling platforms, such as the MLC exchange group on Telegram, show a slight difference in the value of the dollar. On this particular platform, the dollar is quoted at 321 CUP, one CUP above the elToque rate. This difference reflects the strong demand for the dollar in informal sectors, especially for the purchase of products abroad and remittances.
Currency Conversion to MLC and CUP
Below are the most recent conversions for Euro and Dollar to MLC, based on current informal market rates:
Euro and MLC:
+ 1 EUR = 1.22 MLC
+ 5 EUR = 6.10 MLC
+ 10 EUR = 12.20 MLC
+ 20 EUR = 24.40 MLC
+ 50 EUR = 61.00 MLC
+ 100 EUR = 122.00 MLC
Dollar to MLC:
+ 1 USD = 1.18 MLC
+ 5 USD = 5.90 MLC
+ 10 USD = 11.80 MLC
+ 20 USD = 23.60 MLC
+ 50 USD = 59.00 MLC
+ 100 USD = 118.00 MLC
The equivalents in Cuban pesos (CUP) for different amounts of euros, dollars, and MLC are as follows:
United States Dollar (USD) to Cuban Peso (CUP):
+ 10 USD = 3,200 CUP
+ 20 USD = 6,400 CUP
+ 50 USD = 16,000 CUP
+ 100 USD = 32,000 CUP
Euro (EUR) to Cuban Peso (CUP):
+ 10 EUR = 3,300 CUP
+ 20 EUR = 6,600 CUP
+ 50 EUR = 16,500 CUP
+ 100 EUR = 33,000 CUP
Freely Convertible Currency (MLC) to Cuban Peso (CUP):
+ 10 MLC = 2,700 CUP
+ 20 MLC = 5,400 CUP
+ 50 MLC = 13,500 CUP
+ 100 MLC = 27,000 CUP
Market Projections for September
Despite the fall in the MLC, some market analysts expect the exchange rates to stabilize in the coming weeks, driven by the ongoing demand for foreign currency. However, others predict further fluctuations in response to changes in the global economy and trade policies. As the situation evolves, we will continue to provide updates on the Cuban currency market.
Keyword-rich tags:
Informal currency exchange
Freely Convertible Currency (MLC)
Exchange rates
Cuban pesos (CUP)
Euro (EUR)
United States Dollar (USD)
Currency conversion
Market projections
* September exchange rates
Meta description:
Stay up-to-date on the latest developments in Cuba
– How does the fluctuation in the MLC impact the daily lives of Cubans?
Cuba’s Informal Currency Market Sees Significant Drop in Exchange Rates
According to the latest update from elToque, the informal currency market in Cuba has experienced a significant change today, with the Freely Convertible Currency (MLC) dropping by 5 CUP to stand at 270 CUP. This fluctuation has generated expectations among Cubans who depend on these currencies to make purchases of basic necessities.
What’s Driving the Decline of MLC?
Market analysts attribute the recent fall in the MLC to the fluctuation in demand for this currency, especially due to restrictions on the private sector, which have reduced the need for foreign currency for the import of goods. These restrictions, which have affected small and medium-sized companies, have caused a change in the usual dynamics of the foreign exchange market on the island.
Other References
In addition to the data provided by elToque, other currency buying and selling platforms, such as the group MLC exchange —the largest Telegram for buying and selling currencies in Cuba—, show a slight difference in the value of the dollar. On this particular platform, the dollar is quoted at 321 CUP, one CUP above the elToque rate. This difference reflects the strong demand for the dollar in informal sectors, especially for the purchase of products abroad and remittances.
Currency Conversion to MLC and CUP
Here are the most recent conversions for Euro and Dollar to MLC, based on current informal market rates:
Euro and MLC:
+ 1 EUR = 1.22 MLC
+ 5 EUR = 6.10 MLC
+ 10 EUR = 12.20 MLC
+ 20 EUR = 24.40 MLC
+ 50 EUR = 61.00 MLC
+ 100 EUR = 122.00 MLC
Dollar to MLC:
+ 1 USD = 1.18 MLC
+ 5 USD = 5.90 MLC
+ 10 USD = 11.80 M
