The price of the dollar and other foreign currencies today in Cuba

Updated exchange rates on the unofficial foreign exchange market in Cuba.

Before everything, Cuban Guide I would like to make it clear that it does not benefit us at all that the dollar, the euro or the MLC has increased in the country. We want the day to come when Cubans can buy all the basic necessities they need to live in dignity with their salary.

When we refer to the current exchange rates on the island’s unofficial market, we are not doing so for any purpose other than to inform our readers.

As we have always pointed out, these are not absolute numbers, because the informal foreign exchange market in Cuba is not homogeneous, on the contrary, it is highly influenced by various aspects.

This means that at this very moment a dollar is probably selling for $90.00 in Guantanamo, while in Havana Vedado it is selling for $102.00. Or that in any deal the two parties reach an agreement based on the amount of dollars purchased and then the seller decides to lower his bid price.

We explained earlier that it even affects the exchange rate, the denomination of the banknote, or the condition of its preservation. Buyers often refuse to purchase scratched, stained or torn banknotes.

In other words, the complex mechanism of supply and demand that governs today in the Cuban foreign exchange market is very complex. But it is the only one that allows the establishment of a coherent ratio between the national currency and foreign currencies, given the ineffectiveness of the government, which maintains a fixed and unreasonable official rate (1.00 US dollars = 24.00 kopecks).

The price of the dollar today in Cuba

Under these circumstances, of course, there is no exact formula for determining the absolute exchange rate that governs the country.

Nevertheless, we periodically report on how the informal foreign exchange market is developing, determining the average values, based on purchase and sale announcements on various social networks, in particular on Cambio MLC, the largest Telegram group dedicated to this type of transaction in Cuba.

In the same way that we explained a few weeks ago how two announcements (one from the Cuban government and one from the United States) determined the depreciation of the foreign exchange rate in the country, today we must point out how the trend is up again.

Although the expectations and fears of the population after those announcements led to a somewhat revaluation of the Cuban peso against the US dollar and the euro, today’s high demand and lower trading of these latest currencies put the balance once again on the other side.

US dollar (USD):

  • Selling Price: $100.00 (Cuban Peso) cup
  • Purchase price: $97.00 a cup

euro:

  • Selling price: $115.00 a cup
  • Purchase price: 113.00 CUP

MLC:

  • Selling price: $110.00 a cup
  • Purchase price: $110.00 a cup.

Here you can check the exchange rate between the euro and the dollar in the international market today, June 7, 2022.

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