This Saturday, October 26, 2024, the Cuban informal market maintains its stability in the exchange rates of the main currencies. The United States dollar (USD) is trading at 325 CUP, the euro (EUR) remains at 340 CUP and the Freely Convertible Currency (MLC) remains at 265 CUP, according to the latest reports from elTOQUE.
Consistency in exchange rates
During the last 24 hours, exchange rates have not shown significant variations, suggesting a moment of relative calm in the informal market. The USD continues to be the most demanded currency, maintaining a value of around 325 CUP. For its part, the euro remains constant at 340 CUP, reflecting its importance in the daily transactions of many Cubans.
The MLC, which is mainly used for purchases in state stores, remains at 265 CUP, indicating that, despite the economic challenges, the prices of this currency have found a point of stability.
Currency conversion in the informal market
Below are the exchange rates and equivalents in Cuban pesos (CUP) for banknotes of each of the main currencies:
US Dollar (USD) to CUP:
- 1 USD = 325 CUP
- 5 USD = 1,625 CUP
- 10 USD = 3,250 CUP
- 20 USD = 6,500 CUP
- 50 USD = 16,250 CUP
- 100 USD = 32,500 CUP
Euro (EUR) and CUP:
- 1 EUR = 340 CUP
- 5 EUR = 1,700 CUP
- 10 EUR = 3,400 CUP
- 20 EUR = 6,800 CUP
- 50 EUR = 17,000 CUP
- 100 EUR = 34,000 CUP
MLC and CUP:
- 1 MLC = 265 CUP
- 5 MLC = 1.325 CUP
- 10 MLC = 2.650 CUP
- 50 MLC = 13,250 CUP
- 100 MLC = 26,500 CUP
The lack of changes in exchange rates suggests a moment of relative stability in the Cuban informal market. However, this calm should not distract from the persistent economic problems facing the country, including shortages of basic products and high inflation.
Cubans continue to depend on hard currency to make purchases in stores that operate in freely convertible currency and cover their daily needs. The current stability in exchange rates could offer a brief respite to those looking to access essential goods in a challenging economic context.
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