Hacker News new | ask | show | jobs
by acchow 1375 days ago
Why does xe.com show 3902 cuban pesos as $162 US?

https://www.xe.com/currencyconverter/convert/?Amount=3902&Fr...

2 comments

That'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... [2]: https://eltoque.com/tasas-de-cambio-de-moneda-en-cuba-hoy