Nothing has appeased the exchange rate of currencies like the euro and the US dollar in the so-called “black market” in Cuba. On this day of August 9, their costs have skyrocketed, close to 130 Cuban pesos with a stable upward trend of the three currencies of exchange on the street, including the Freely Convertible Currency (MLC).
After the government measure of applying an alternative rate of 120 Cuban pesos for each dollar to purchase foreign currency, the black market exploded. At first, lukewarm, but a week later it is already far above the state rate. According to various currency buying and selling groups, this is how things are going today.
The euro from the Schengen zone is being sold in the informal market for an average of 129 Cuban pesos. And it is being bought at 125. Its average value is about 127 Cuban pesos. On the other hand, the US dollar is being sold above 125 pesos and is being bought at 120.
Finally, the Freely Convertible Currency in Cuba is triggered. It is sold on average for more than 127 Cuban pesos, and it is bought above 126. The range of sales is thus between 126 and 127 Cuban pesos today. As we were anticipating, the exchange rate of the MLC is equaling the euro in Cuba.
EXCHANGE RATE, EURO, DOLLAR, MLC IN CUBAN BANKS TODAY
In Cuban banks, for example in the central bank of Cuba, the situation with the currency exchange rate is like this. The euro is being bought above 122 Cuban pesos, the Swiss franc above 125 and the pound sterling at 145 Cuban pesos. The US dollar is still agreed at 120 pesos.
Other banks, such as the Metropolitano, which serves the Havana population, report that the euro is at 119.98, and the US dollar at 110.40. With these rates, it is still convenient for the population that arrives with foreign currency to the island to sell their money in the informal market.