Euros and dollars continue to fall on Cuba’s informal market

Next Thursday both the euros and the dollars experienced another significant decline in their average sales value on Cuba’s informal market, reinforcing the downward trend seen by both currencies since mid-month. Particularly noteworthy is the 8 pesos decline in the informal exchange rate of the euro, which as of 7 a.m. local Cuban time on May 23 has an average selling price of 370 CUP – eight pesos lower than its value at the same time. yesterday.

The euros has continuously decreased by five pesos per day since May 16, from 365 to 360 CUP. Meanwhile, the dollar has fallen by 35 pesos over the past eight days. The Freely convertible currency (MLC), however, remains relatively stable and is still valued at 300 pesos, a rate that has been maintained for several days.

Current exchange rates in Cuba

As of 7:03 AM on May 23, 2024, the exchange rates are as follows:

elTOQUE reported rates:

Dollar (USD) to CUP: 360 CUP
Euro (EUR) to CUP: 370 CUP
MLC to CUP: 300 CUP

Alternative platform rates:

Dollar (USD): Buy at 353 CUP, sell at 362 CUP
Euro (EUR): Buy for 365 CUP, sell for 374 CUP
MLC: buy for 293 CUP, sell for 299 CUP

Please note that the informal exchange rates presented here in Cuba are not officially recognized or supported by any financial or government agency.

exchange rate

Below you will find the conversions of every available note from Euros and US Dollars to Cuban Pesos (CUP), based on the exchange rates this Thursday, May 23:

US Dollar (USD) to Cuban Peso (CUP):

1 USD = 360 CUP
5 USD = 1800 CUPS
10 USD = 3600 CUPS
20 USD = 7200 CUPS
50 USD = 18000 CUP
100 USD = 36000 CUP

Euro (EUR) to Cuban Peso (CUP):

1 EUR = 370 CUPS
5 EUR = 1850 CUP
10 EUR = 3700 CUPS
20 EUR = 7400 CUPS
50 EUR = 18500 CUP
100 EUR = 37000 CUP

This information can be useful for calculating the cost in Cuban pesos of any dollar or euro amount. These conversions are based on the exchange rates of 360 CUP per dollar and 370 CUP per euro.

Frequently asked questions about exchange rates in Cuba

Below are some frequently asked questions and answers about current exchange rates and trends in Cuba’s informal market.

Why are the euro and the dollar declining in value on the informal market?

The depreciation of the euro and the dollar on the informal market can be attributed to several economic factors, including supply and demand dynamics and the overall economic situation in Cuba.

What are the current exchange rates for the Euro and the Dollar in Cuba?

As of May 23, 2024, the exchange rate for the dollar will be 360 CUP, and for the euro 370 CUP according to elTOQUE.

Is the Freely Convertible Currency (MLC) Stable?

Yes, the MLC has shown relative stability and is still valued at 300 pesos.