As 2025 begins, the black market for currency exchange in Cuba continues to see foreign currencies holding high values. The U.S. dollar (USD) is currently trading at 305 Cuban pesos (CUP), while the euro (EUR) is valued at 310 CUP. Meanwhile, the MLC, a virtual currency used in Cuban foreign currency stores, remains at 250 CUP.
Due to the limited availability through official channels, the black market remains the primary option for obtaining these currencies. These rates highlight the economic pressures and the significant demand for foreign currencies amid a financial crisis affecting the island.
The currency exchange situation in Cuba mirrors the inflation and devaluation of the Cuban peso, illustrating the challenges residents face in acquiring essential and imported goods.
Current Exchange Rates: January 2, 2025
Today's exchange rates in Cuba as of Thursday, January 2, 2025, at 07:00:
- USD to CUP according to elTOQUE: 305 CUP
- EUR to CUP according to elTOQUE: 310 CUP
- MLC to CUP according to elTOQUE: 250 CUP
Currency Conversions Available
Available currency conversions for banknotes:
- Dollar (USD):
- $1 = 305 CUP
- $5 = 1,525 CUP
- $10 = 3,050 CUP
- $20 = 6,100 CUP
- $50 = 15,250 CUP
- $100 = 30,500 CUP
- Euro (EUR):
- €1 = 310 CUP
- €5 = 1,550 CUP
- €10 = 3,100 CUP
- €20 = 6,200 CUP
- €50 = 15,500 CUP
- €100 = 31,000 CUP
Understanding Cuba's Currency Exchange Challenges
Why is the black market the main source for foreign currencies in Cuba?
The black market is the primary source due to the scarcity of foreign currency availability through official channels, driven by economic pressures and high demand.
How do the current exchange rates reflect economic conditions in Cuba?
The exchange rates are indicative of inflation and the devaluation of the Cuban peso, highlighting the financial struggles and difficulties in accessing goods.