This Saturday the informal currency exchange market in Cuba continues to show signs of instability, although today only the euro is going down.
At seven in the morning on June 15 The European currency is valued at 360 CUP, which is ten pesos less than the previous day.
The dollar, for its part, remains stable at 350 pesosa figure it reached this Friday.
Also without changes the Freely Convertible Currency (MLC), which remains valued at 300 pesos since a few days ago.
Despite a start to the week marked by a Monday day in which none of the three currencies rose or fellover the course of the week the dollar and the euro, mainly, have plummeted again.
That decline came after five days last week of dizzying increase in which euros, dollars and MLC almost recovered values prior to the May downturn.
The volatility of the Cuban informal currency market confirms again and again the drift of the Cuban economyas well as the uncertainty of citizens regarding the possible course of events and the growing hole in their pockets that this implies.
Exchange rate today 06/15/2024 – 7:18 am in Cuba:
Dollar exchange rate USD to CUP according to the touch: 350 CUP.
Euro exchange rate EUR to CUP according to the touch: 360 CUP.
MLC to CUP exchange rate according to the touch: 300 CUP.
The informal Cuba exchange rate offered here is not officially recognized or endorsed by any financial or government entity.
The Cuban government still does not make a statement in economic terms about the direction of currencies, but it did dedicate these days a new chapter to the personal war it maintains with the independent media. the touch.
In the article titled “Beyond the price of the dollar”, published on June 11 in the newspaper GranmaJorge Enrique Jerez Belisario accused the touch of being “part of the package of a IV Generation war”, that would combine “actions in the virtual and real media scenarios, to open gaps that lead to confrontations and contradictions that break the unity of the people-Government-Party.”
With dizzying verbiage where the economy does not appear anywhere, Jerez Belisario considered the touch “as part of the US Government’s unconventional war strategy against Cuba”common place of all national misfortunes.
In a context of marked government inaction, the touch announced that it has strengthened controls to calculate the representative rate amid growing suspicion of attempts to inflate or collapse values with false advertisements.
In recent days, the independent media has increased its explanations about the methodology it uses to calculate the rate. In one of these most recent explanations, Abraham Calás, director of development and innovation of the independent media, explained why the price of currencies changes sometimes during the early hours of the morning.
“The informal market in itself should not exist under other conditions, but it is an imperfect substitute for an official exchange market that is not functional because it operates with an overvalued exchange rate and does not offer dollars to those who need it,” he insisted. for his part the economist Pavel Vidal.
“We have to take care of the informal market as long as it is necessary in the economy and what the campaign does is distort the market, which is not good for the operations of the private sector, families, those who send remittances, etc.,” he added.
Equivalences of each available banknote from euros and US dollars to Cuban pesos (CUP)
US Dollar (USD) to Cuban Peso (CUP)according to the exchange rates for this Saturday, June 15.
1 USD: 350 CUP.
5 USD: 1,750 CUP.
10 USD: 3,500 CUP.
20 USD: 7,000 CUP.
50 USD: 17,500 CUP.
100 USD: 35,000 CUP.
Euros (EUR) to Cuban Pesos (CUP)
1 EUR = 360 CUP.
5 EUR: 1,800 CUP
10 EUR: 3,600 CUP
20 EUR: 7,200 CUP
50 EUR: 18,000 CUP100 EUR: 36,000 CUP
