😅
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Let's clarify the difference and advantages of USD 🇺🇸 and CAD 🇨🇦 for people who are less familiar with exchanging money or even calculations.
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Let's start with today's rate here, in our local banks, the exchange rate today March 7, 2024 is:
So: $100.00 🇺🇸
costs us: $135.59 🇨🇦
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So applying the parallel market exchange rate to Cuba:
According to the figures in the image we will establish that we had a good exchange on the parallel market of:
190 pesos 🇨🇺 for $1🇨🇦
And
300 pesos 🇨🇺 for $1 🇺🇸
So for:
$100 🇨🇦 = 19000
$100 🇺🇸 = 30000
*And if I bought $100🇺🇸 from my bank, it cost me $135 ok?
To show you that even having paid the exchange rate to our bank here it is advantageous look at:
For:
$135 🇨🇦 = 25600 🇨🇺
$100 🇺🇸 = 30000 🇨🇺
➡️ Difference + 4350 🇨🇺 ✅
⚠️ Here the example was on $100 but imagine a family of 4 or those who stay 2, 3 weeks, 1 month or even more, who go out to the city's restaurants, it's a whole saving that you make this way !
In addition by going to the bank, at the same time you can change $50/$75 dollars into $1 US in paper for tips, it's much easier for them than having to hassle tourists to change $1 and $2 in change of Canada which are of no use to them…
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If we apply this to an invoice, look at the example here:
Look at this invoice, it says:
4576 UPC 🇨🇺
35.20 US 🇺🇸
48.17 CAD 🇨🇦
Let's say that with your exchange at 190 pesos 🇨🇺 for $1 🇨🇦 your meal will have cost you $24.07 instead of $48.17
Even better if you had exchanged from the US, your lunch of $35.20 would cost you $15.25 to 300 for $1 🇺🇸
Just the difference from earlier on the exchange + 4350 almost pays for your meal (4576) right here! 😉
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The difference there means that we have more for US than Canadian.
What confuses people is that normally it's not like that, but currently Cubans want US and they give a lot to get it...
🤷🏻♂️
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