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Why does xe.com show 3902 cuban pesos as $162 US? https://www.xe.com/currencyconverter/convert/?Amount=3902&From=CUP&To=USD https://www.xe.com/currencyconverte
by acchow 4y ago
Why does xe.com show 3902 cuban pesos as $162 US?
https://www.xe.com/currencyconverter/convert/?Amount=3902&From=CUP&To=USD https://www.xe.com/currencyconverter/convert/?Amount=3902&Fr...
- junar 4y agoApparently that exchange rate isn't real. https://www.reuters.com/markets/us/cuba-more-than-quadruples-dollarpeso-exchange-rate-2022-08-04/ https://www.reuters.com/markets/us/cuba-more-than-quadruples...
- PentiumBug 4y agoThat's old news. The state mandated rate is around 120 CUP per USD (with a little spread when buying/selling, and for other market fluctuations.) But almost no one uses that mechanism, as the state is profoundly insolvent. The black market, or unofficial, rate is what everyone thinks about[2]. [1]: http://www.cubadebate.cu/especiales/2022/08/29/apuntes-sobre-la-tasa-de-cambio-en-el-mercado-cambiario-en-cuba/ http://www.cubadebate.cu/especiales/2022/08/29/apuntes-sobre... [2]: https://eltoque.com/tasas-de-cambio-de-moneda-en-cuba-hoy https://eltoque.com/tasas-de-cambio-de-moneda-en-cuba-hoy