Exchange Rates: Large increase today in the price of the euro and the dollar in the Cuban informal market

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Fuerte repunte del euro y el dólar en el mercado informal de divisas en Cuba este 3 de abril. Así están los tipos de cambio.

El mercado informal de divisas en Cuba amanece este miércoles con una marcada subida en el valor del euro y el dólar, consolidando una tendencia que podría tener impactos significativos en el bolsillo de los cubanos.

The euro soars and the dollar continues to rise.

On April 3rd, the price of the euro rises by 5 Cuban pesos (CUP) compared to the previous day and is quoted at 365 CUP in the informal market. Meanwhile, the US dollar also records an increase of 1 peso, standing at 358 CUP.

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El MLC (moneda libremente convertible), por el contrario, cae 1 peso y se sitúa en 272 CUP, mientras que el dólar canadiense (CAD) se mantiene estable en 225 CUP.

Updated conversion of the main currencies

EURO (365 CUP)

  • "1 EUR = 365 CUP" se traduce como "1 EUR = 365 CUP".
  • 5 EUR = 1,825 CUP
  • 10 EUR = 3,650 CUP
  • 20 EUR = 7,300 CUP
  • 30 EUR = 10,950 CUP
  • 50 EUR = 18,250 CUP
  • 100 EUR = 36,500 CUP

DOLLAR (358 CUP)

  • 1 USD = 358 CUP
  • 5 USD = 1,790 CUP
  • 10 USD = 3,580 CUP
  • 20 USD = 7,160 CUP
  • 30 USD = 10,740 CUP
  • 50 USD = 17,900 CUP
  • 100 USD = 35,800 CUP
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MLC (272 CUP)

  • 1 CUC = 272 CUP
  • 5 MLC = 1,360 CUP
  • 10 MLC = 2,720 CUP
  • 20 MLC = 5,440 CUP
  • 30 MLC = 8,160 CUP
  • 50 MLC = 13,600 CUP
  • 100 CUC = 27,200 CUP

CANADIAN DOLLAR (225 CUP)

  • "1 CAD = 225 CUP" se traduce como "1 CAD = 225 CUP".
  • 5 CAD = 1,125 CUP
  • 10 CAD = 2,250 CUP
  • 20 CAD = 4,500 CUP
  • 30 CAD = 6,750 CUP
  • 50 CAD = 11,250 CUP
  • 100 CAD = 22,500 CUP

Comparación con el panorama internacional

On a global level, the euro maintains a certain advantage over the dollar. Today, the official rate is around 1.08 USD per euro, which also translates into a slight upward pressure for the euro in the informal Cuban markets.

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This is how the price of the euro has increased in the last hours: Exchange rates of the dollar and the MLC in Cuba today.

What does this mean for Cubans?

With an official minimum wage in Cuba of 2,100 CUP and an average salary that barely exceeds 4,000 CUP, the cost of acquiring foreign currency is unattainable for a large part of the population. For example, just 6 euros or dollars can be equivalent to an entire monthly minimum wage, demonstrating the level of devaluation of the Cuban peso and the rising prices of basic goods and services linked to strong currencies.

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