Dollar and euro register another sharp drop in price in Cuba

Dollars and euros register another sharp drop in price in Cuba

HAVANA, May 19  The dollar and the euro once again registered this Sunday a sharp drop in the average sales value in the Cuban informal market.At 7 in the morning on May 19 (local Cuban time), the dollar is valued at 380 pesos, five pesos less than the previous day. In the last hours the selling price of the dollar fell for the fourth consecutive day.

The US currency reached 395 pesos on May 9 and remained at that stable value for a week. However, between the 16th and the 19th it has dropped 15 pesos in just four days.

Regarding the euro, it also drops five pesos and stands today at 390 CUP in relation to its value on Saturday.

In the case of the European currency, it reached its maximum record on May 10 when it climbed to 402.5, it dropped the next day to 400 (May 11) and remained at that average price until this Saturday when it fell to 395. This Sunday it chains his second day of relegation.

The Freely Convertible Currency (MLC) remains at 300 today after having registered an abrupt fall.

Exchange rate today 05/19/2024 – 7:00 a.m. in Cuba:

Exchange rate from USD to CUP according to elTOQUE: 380 CUP.

Euro exchange rate EUR to CUP according to elTOQUE: 390 CUP.

Exchange rate from MLC to CUP according to elTOQUE: 300 CUP.

Alternative exchange rate from other platforms:

Dollar (USD) exchange rate: Buy 375 CUP, Sell 383 CUP.

Euro (EUR) exchange rate: Buy 384 CUP, Sell 393 CUP.

MLC exchange rate: Buy 296 CUP, Sell 301 CUP.

The informal Cuba exchange rate offered here is not officially recognized or endorsed by any financial or government entity.

Below are the equivalents of each available euro and US dollar banknote to Cuban pesos (CUP), according to the exchange rates for this Sunday, May 19.

1 USD = 380 CUP.

1 EUR = 390 CUP.

This information can be useful to calculate the cost in Cuban pesos of any amount of dollars or euros. These conversions are based on the provided rates of 380 CUP for each dollar and 390 CUP for each euro.

In recent days, the average sale of the three reference currencies in the Cuban informal market has shown signs of slowing down and in the last few hours, the path they have taken is one of abrupt decline.

In an article published by elToque at the beginning of the month, the independent media warned that the models of the Cuban Currency and Finance Observatory (OMFi) anticipated that the trend of peso depreciation could continue in May.

They also predicted that the informal exchange rate could be around 417-427 CUP per dollar, 422-433 CUP per euro and 316-324 CUP per MLC towards the end of the month.

Judging by what has happened in recent days, the slowdown in the rate of devaluation of the Cuban peso has already begun.