This September 13, like every morning, Directorio Cubano offers you the price of the American dollar, euro and Freely Convertible Currency (MLC) in Cuba both in the informal market, as well as the official exchange rates of the Central Bank (BCC).
Below are the official and informal exchange rates for the dollar and the euro. What is the price of currencies in Cuba today, September 13, on the informal market? After several days of stability, one of the currencies shows an upward trend, although it is not definitive.
The currency market in Cuba continues to show remarkable stability, according to the latest daily reports from El Toque.
The exchange rates of the US dollar (USD), the euro (EUR) and the freely convertible currency (MLC) remain unchanged in the informal market, consolidating a trend that has persisted for weeks. Despite this, some reports on social media indicate that the euro is showing an upward trend today.
Current rates on the black market are as follows:
– USD: 320 CUP
– EUR: 330 CUP
– MLC: 275 CUP
Cost of the dollar, euro and MLC in Cuba today
This stability in the exchange rates of the dollar, euro and MLC in Cuba is unusual in an economic context on the island characterized by constant fluctuations. The situation continues to generate uncertainty among the population, as many fear an eventual abrupt increase in rates, despite the calm observed in recent days, let’s say weeks.
These movements on the black market for foreign currency could be signs of more significant changes in the near future regarding the value of the euro on the informal market. These fluctuations reflect that the parallel market remains dynamic, even if this is not yet reflected in the price of currencies.
What are the exchange rates in Cuban banks today, according to the Central Bank of Cuba? The dollar remains at 120 pesos for purchase, while the euro remains at approximately 132 Cuban pesos according to the official exchange rate. All rates here.
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Cuban peso to USD black market
Table of Contents
Cuban Currency and Exchange Rates: A Comprehensive Guide
As of September 13, 2024, Cuba’s currency market is experiencing a rare period of stability, with exchange rates for the US dollar (USD), euro (EUR), and Freely Convertible Currency (MLC) remaining unchanged in the informal market. However, this stability has not always been the case, and understanding the complexities of Cuba’s currency and exchange rates is essential for travelers and investors alike.
The Cuban Peso (CUP)
The Cuban Peso (CUP) is the local currency in Cuba, but it’s not widely used by tourists. Instead, the Cuban Convertible Peso (CUC) was previously pegged to the US dollar at a 1:1 ratio [[3]]. However, since 2021, the CUC is no longer in use, and its exchange rate is not fixed to the USD.
Exchange Rates in Cuba
When exchanging currencies in Cuba, it’s essential to be aware of the conversion fees. For US dollars, an 8% conversion fee applies, making the effective rate 110 CUP = 1 USD [[1]]. For other currencies, a 2% conversion fee is charged. These fees can add up quickly, so it’s crucial to plan ahead and exchange your currency wisely.
Informal Market Exchange Rates
The informal market exchange rates in Cuba can fluctuate daily. As of September 13, 2024, the current rates are:
USD: 320 CUP
EUR: 330 CUP
MLC: 275 CUP
These rates can vary depending on the source and the day, so it’s essential to stay up-to-date with the latest exchange rates [[2]].
Official Exchange Rates
The Central Bank of Cuba (BCC) sets the official exchange rates, which may differ from the informal market rates. These rates are typically more favorable than the informal market rates, but they can still change frequently.
Tips for Travelers
For travelers, understanding Cuba’s currency and exchange rates is crucial to avoid unnecessary fees and ensure a smooth trip. Here are some tips:
Exchange your currency before arriving in Cuba or use an ATM to withdraw CUP.
Avoid exchanging money at airports or hotels, as the rates may be less favorable.
Use a credit card or debit card with no foreign transaction fees.
* Keep an eye on exchange rates and adjust your budget accordingly.
Conclusion
Cuba’s currency and exchange rates can be complex and unpredictable. Staying informed about the latest exchange rates and conversion fees is essential for travelers and investors to navigate the Cuban economy successfully. By understanding the intricacies of Cuba’s currency market, you can make the most of your trip or investment and avoid unnecessary costs.
References:
Cuban peso to USD black market
Cuban Currency and Exchange Rates: A Comprehensive Guide
As of September 13, 2024, Cuba’s currency market is experiencing a rare period of stability, with exchange rates for the US dollar (USD), euro (EUR), and Freely Convertible Currency (MLC) remaining unchanged in the informal market. However, this stability has not always been the case, and understanding the complexities of Cuba’s currency and exchange rates is essential for travelers and investors alike.
The Cuban Peso (CUP)
The Cuban Peso (CUP) is the local currency in Cuba, but it’s not widely used by tourists. Instead, the Cuban Convertible Peso (CUC) was previously pegged to the US dollar at a 1:1 ratio [[3]]. However, since 2021, the CUC is no longer in use, and its exchange rate is not fixed to the USD.
Exchange Rates in Cuba
When exchanging currencies in Cuba, it’s essential to be aware of the conversion fees. For US dollars, an 8% conversion fee applies, making the effective rate 110 CUP = 1 USD [[1]]. For other currencies, a 2% conversion fee is charged. These fees can add up quickly, so it’s crucial to plan ahead and exchange your currency wisely.
Informal Market Exchange Rates
The informal market exchange rates in Cuba can fluctuate daily. As of September 13, 2024, the current rates are:
USD: 320 CUP
EUR: 330 CUP
* MLC: 275 CUP
These rates can vary depending on the source and the day, so it’s essential to
