This Thursday, December 12, 2024, the exchange rates in the Cuban informal market show stability in the values of the euro (EUR), the U.S. dollar (USD) and the freely convertible currency (MLC), remaining without significant changes compared to previous days. According to information provided by El Toquethe current rates are as follows:
- Euro (EUR): 340 CUP
- U.S. dollar (USD): 327 CUP
- Freely Convertible Currency (FCM): 270 CUP
Updated currency conversion
The following are the equivalences in Cuban pesos for various denominations of the main currencies:
U.S. dollar (USD):
- 1 USD = 327 CUP
- 5 USD = 1,635 CUP
- 10 USD = 3,270 CUP
- 20 USD = 6,540 CUP
- 50 USD = 16,350 CUP
- 100 USD = 32,700 CUP
Euro (EUR):
- 1 EUR = 340 CUP
- 5 EUR = 1,700 CUP
- 10 EUR = 3,400 CUP
- 20 EUR = 6,800 CUP
- 50 EUR = 17,000 CUP
- 100 EUR = 34,000 CUP
Freely Convertible Currency (FCM):
- 1 MLC = 270 CUP
- 5 MLC = 1,350 CUP
- 10 MLC = 2,700 CUP
- 50 MLC = 13,500 CUP
- 100 MLC = 27,000 CUP
Current market context
The behavior of rates this month reflects the relative stability of the informal market in a period when foreign exchange is usually more in demand, due to the end-of-year festivities. The arrival of remittances from abroad, particularly from the United States and Europe, plays an important role in the market dynamics, as it increases available currency and partially satisfies demand.
However, the freely convertible currency continues to be key in the Cuban economic system, since it is essential for acquiring basic products in stores that operate in this currency. The maintenance of its value at 270 CUP confirms its relevance as the preferred currency for domestic consumption.
Year-end projections
As the holiday season intensifies, it is likely that exchange rates may fluctuate in response to increased economic activity. Remittances and year-end preparations often put pressure on both the supply and demand for foreign exchange, which could lead to adjustments in current values.
In this scenario, Cubans continue to rely on the informal market as a key way to access the foreign currencies necessary to cover their economic needs, in a context of limited supply in official channels. Keeping abreast of daily rates will be fundamental to better manage resources and anticipate possible changes in the market.