Exchange rate on the cusp of breaking the 400

[El Presidente]

https://www.cubaheadlines.com/articles/282053

In recent hours, the average selling price of the dollar in Cuba's informal market has shown signs of a decrease, dropping from 395 to 393 CUP, two pesos less than its average value in recent days. As of 9 a.m. on May 16 (Cuban local time), the dollar remains at 393 CUP.

The euro, on the other hand, is still valued at 400 CUP. The Freely Convertible Currency (MLC) also maintains its average selling price at 305, following a sudden drop of five units on Wednesday.

Exchange Rates on May 16, 2024 - 3:05 a.m. in Cuba

Exchange rate of the U.S. dollar (USD) to CUP according to elTOQUE: 393 CUP. Exchange rate of the euro (EUR) to CUP according to elTOQUE: 400 CUP. Exchange rate of the MLC to CUP according to elTOQUE: 305 CUP. Alternative exchange rates from other platforms:

Exchange rate of the dollar (USD): Buy 387 CUP, Sell 394 CUP. Exchange rate of the euro (EUR): Buy 395 CUP, Sell 399 CUP. Exchange rate of the MLC: Buy 303 CUP, Sell 304 CUP.

The informal exchange rate in Cuba provided here is not officially recognized or backed by any financial or governmental entity. Below are the equivalents of each available bill in euros and U.S. dollars to Cuban pesos (CUP), based on the exchange rates on May 16.

U.S. Dollar (USD) to Cuban Peso (CUP):

• 1 USD bill: 393 CUP
• 5 USD bill: 1,965 CUP
• 10 USD bill: 3,930 CUP
• 20 USD bill: 7,860 CUP
• 50 USD bill: 19,650 CUP
• 100 USD bill: 39,300 CUP

Euro (EUR) to Cuban Peso (CUP):

• 5 EUR bill: 2,000 CUP
• 10 EUR bill: 4,000 CUP
• 20 EUR bill: 8,000 CUP
• 50 EUR bill: 20,000 CUP
• 100 EUR bill: 40,000 CUP
• 200 EUR bill: 80,000 CUP
• 500 EUR bill: 200,000 CUP

This information can be useful for calculating the cost in Cuban pesos of any amount in dollars or euros. These conversions are based on the rates of 393 CUP per dollar and 400 CUP per euro.

In recent days, the average sale of the three reference currencies in the Cuban informal market seems to have slowed down a bit. The drop in the dollar today adds to the one experienced by the MLC on Wednesday, as well as the slight decline in the euro over the past weekend.

However, despite these changes, an article published by elTOQUE earlier this month warned that models from the Cuban Observatory of Currencies and Finance (OMFi) anticipated that the trend of peso depreciation might continue in May. They 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 by the end of the month. They also suggested, however, that a slowdown in the rate of peso devaluation is likely in the coming months.

[NSXCIGAR]

EUR was over 400 last week. Should be 400 to USD by today or tomorrow.