How much is a dollar worth in Cuba today? Find out the official rates and the reference rates of the informal market for July 21, 2024.
Foreign currencies continue to experience another decline on the parallel market, but still far exceed the government’s official exchange rate.
According to the reference rate of The touchthe US dollar is around 300 Cuban pesos. Meanwhile, the euro is exchanged for 310.00 CUP and the Freely Convertible Currency (MLC) has a value of 270.00 CUP.
The media itself stated in another publication that this new collapse of informal exchange rates coincides “with the announcements of price caps and other measures on the private sector.”
“Starting on July 10, the informal value of the dollar began to fall more sharply. A week later, the rate was at 300 pesos. By July 18, the Cuban peso had appreciated by 16.2% (58 pesos) in the month,” They pointed out.
Official exchange rate in Cuba
For its part, the official exchange rate of the USD remains unchanged. The Cuban government assured which is not going to be modified yet, because that would further devalue the Cuban peso.
The Central Bank of Cuba (BCC) has the following exchange rates for today, Sunday, July 21, 2024:
- Euro: 130.65600 Cuban pesos
- dollar: 120.00000
The most valuable official currency is the free pound, which is worth 155.03400 CUP. It is followed by the Swiss franc, with 135.05149 CUP.
Comparison of informal rate vs. official rate in Cuba
As you can see, the black market has an exchange rate more than double that of the BCC. This means that in the illegal market you can get 150 CUP more for every USD sold.
In the case of the euro, the difference is even greater. On the black market, one euro can be sold for more than double what the BCC offers. The difference is 180 CUP.
However, one must take into account the risks involved in exchanging foreign currency on the street. The worrying thing is that Cuba cannot meet the official demand for foreign currency and the population has no other option than to turn to this parallel market.
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