Gradually the euro is recovering and is already approaching the price it had before the drop of the last few weeks. It is followed by the MLC and the US dollar. We tell you more.
At the close of this week, the price of the euro, the US dollar, and its digital equivalent, the MLC, continue to increase in value against the Cuban Peso (CUP) in the informal exchange market, the only one operating on the island.
Although the government maintains a fixed and unchangeable rate of 24.00 CUP per US dollar, this is not a serious equivalence and few take it into account, as banking institutions remain reluctant to sell USD and other foreign currencies to the public.
In the Cuban streets, both the US dollar and its European equivalent today have values four times higher than the official rate, and the forecasts, at least in the short term, are that this upward trend will continue.
Flights from the United States to Cuban provinces
The official restart of flights from the United States to the Cuban provinces it has not had a significant impact on the circulation of dollars as many expected, three weeks ago, when the decision to authorize them was announced by the U.S. government.
The news was made public just a few days after the Cuban government announced that it planned to sell Freely Convertible Currency to certain productive forces. This, at a rate higher than 24 X 1, but lower than the prices of the informal market.
Although the Cuban authorities did not provide further details on how that secondary exchange rate would be established, the announcement was enough for the Cuban peso to appreciate against the main foreign currencies.
However, the initial expectations have been buried by reality. In Cuba, there has not been an increase in the availability of foreign currency, and there is a growing demand for foreign currencies in the country. In this way, a sustained increase in the price of these currencies in the informal exchange market can be observed, as shown below.
Dollar price in Cuba today
The American dollar (USD):
- Average selling price: 105.00 CUP (Cuban Pesos)
- Average purchase price: 100.00 CUP
The euro:
- Average selling price: 120.00 CUP
- Purchase price: 118.00 CUP
The MLC:
- Average selling price: 117.00 CUP
- Average purchase price: 115.00 CUP.
However, we remind you that these values are not absolute. They are averages calculated from currency buy and sell ads on various social networks. Especially in MLC Exchange, the largest Telegram group for currency exchange in Cuba.
In your town or province, these coins may have different prices based on subjective aspects such as the amount of money exchanged, the condition of the bills, or their denomination.
Here you can check the exchange rate between the euro and the dollar in the international market.
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I must express that we smokers are suffering from the prices of cigarettes since a pack of H.Upman is between 250 and 300 pesos and no one is putting a stop to all the illegal sellers. And I ask, what is the Cuban Government going to do with all these people who do not contribute anything to our Society? This is abusive and I hope the inspection body and the PNR do the right thing to put an end to these illegalities. I expect a convincing response since we are going through difficult times due to the Blockade, but the internal situation is affecting us just as much as the external one. Regards.
I must express that we smokers are suffering from the prices of cigarettes since a pack of H.Upman is between 250 and 300 pesos and no one is putting a stop to all the illegal sellers. And I ask, what is the Cuban Government going to do with all these people who do not contribute anything to our Society? This is abusive and I hope the inspection body and the PNR do the right thing to put an end to these illegalities. I expect a convincing response since we are going through difficult times due to the Blockade, but the internal situation is affecting us just as much as the external one. Regards.
Thanks to the management of this country, the dollar is rising in price. They are liars, as the President of Cuba and First Secretary of the PCC of this country said on the roundtable, claiming that the vaults were full of dollars. I am a worker with more than 20 years of work experience, and I say it wherever I have to say it: there is no one like Fidel. This country is no longer like before. Sell the dollar, don't be greedy, and a worker is not even given an MLC. They are the most suffering class in this country. How long will the government of this country keep turning a blind eye when the black market has it for sale, and the country, with all its laws, is not capable of finding a solution to the money inflation that exists today in the country?