The Freely Convertible Currency (MLC) in Cuba's black market continues its upward trajectory, marking nearly two consecutive weeks of steady growth. As of 8:00 a.m. local time this Wednesday, the MLC is being traded at an average rate of 283 CUP, showing an increase of three pesos compared to the previous day.
This rise narrows the gap with the values of the euro and the dollar, solidifying the increase trend that began on February 14. Meanwhile, the dollar remains stagnant at 340 CUP, even though Tuesday's median values indicated a potential rise to 342 CUP. Similarly, the euro stays unchanged at 345 CUP, just five pesos above the dollar.
Exchange rates for today, February 26, 2025, at 8:48 a.m. in Cuba are as follows: The dollar to Cuban Peso (CUP) rate stands at 340 CUP. The euro to CUP rate is at 345 CUP, while the MLC to CUP is at 283 CUP, according to elTOQUE.
Here are the equivalents for euro and U.S. dollar bills in Cuban Pesos (CUP) based on the exchange rates of February 26:
United States Dollar (USD) to Cuban Peso (CUP):
- 1 USD: 340 CUP
- 5 USD: 1,700 CUP
- 10 USD: 3,400 CUP
- 20 USD: 6,800 CUP
- 50 USD: 17,000 CUP
- 100 USD: 34,000 CUP
Euro (EUR) to Cuban Peso (CUP):
- 1 EUR: 345 CUP
- 5 EUR: 1,725 CUP
- 10 EUR: 3,450 CUP
- 20 EUR: 6,900 CUP
- 50 EUR: 17,250 CUP
- 100 EUR: 34,500 CUP
Understanding Cuba's Currency Exchange Landscape
What factors are influencing the rise of the MLC in Cuba?
The increase in the MLC can be attributed to economic instability and the limited availability of foreign currency in official markets, driving demand in unofficial exchanges.
Why is the U.S. dollar stagnant in the Cuban black market?
Despite minor fluctuations, the dollar's stagnation is due to a combination of regulatory controls and market saturation, limiting its movement.