The euro and the dollar fall at record speed in Cuba in the last hours

The euro and the dollar fall at record speed in Cuba in the last hours

HAVANA, May 30  This Wednesday the three reference currencies in the Cuban informal market dawn with new price falls. However, the most striking thing after accumulating declines since May 16 is the speed at which they are doing so.

Especially shocking is the sharp drop of 20 pesos in 24 hours that the euro suffered when it dropped to 320 CUP, according to the value recorded at 7 in the morning (Cuban local time) on May 29.

Regarding the average dollar sale, for the fourth consecutive day it drops 10 pesos and 310 pesos per unit.

The US currency has dropped 40 pesos in just four days and 85 pesos in two weeks, which reveals an unprecedented rate of decline since elToque began documenting price fluctuations in the informal sale of currencies on the island. .

Although to a lesser extent, the Freely Convertible Currency (MLC) is also devalued today, dropping five pesos and dawning valued at 270 CUP.

Exchange rate today 05/29/2024 – 7:00 a.m. in Cuba:

Exchange rate from USD to CUP according to TOQUE: 310 CUP.

Euro exchange rate EUR to CUP according to TOQUE: 320 CUP.

Exchange rate from MLC to CUP according to TOQUE: 270 CUP.

Alternative exchange rate from other platforms:

Dollar (USD) exchange rate: Buy 300 CUP, Sell 314 CUP.

Euro (EUR) exchange rate: Buy 306 CUP, Sell 331 CUP.

MLC exchange rate: Buy 264 CUP, Sell 274 CUP.

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

Although many Cubans consider the drop in the informal price of foreign currency in Cuba to be positive, they wonder why the prices of consumer goods do not also contract, something they are looking forward to.

However, CiberCuba sources on the island and reports on social networks assure that certain MSMEs have already begun to lower some prices.

Meanwhile, those lucky enough to have access to the reference currencies in the country recommend waiting and not selling because they believe that in the long run the value of the euro, the dollar and the MLC will rise again.

The Cuban government has continued without comment since the price of foreign currency began to decline in informal sales in mid-May.

Equivalences of each available banknote from euros and US dollars to Cuban pesos (CUP)

United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates for this Wednesday, May 29.

1 USD = 310 CUP.

Euro (EUR) to Cuban Peso (CUP):

1 EUR= 320.

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 310 CUP per dollar and 320 CUP per euro.