The Freely Convertible Currency (MLC) continues its upward trend in Cuba's informal market, marking nearly two weeks of unprecedented price increases. As of 9:00 a.m. local time this Wednesday, the MLC is averaging 285 CUP in sales across the island, climbing two pesos from the previous day.
This surge narrows the gap with the euro and the dollar, reinforcing the MLC's upward trajectory that began on February 14, following a long period stagnating at 245 CUP. Meanwhile, the dollar remains stable today at 340 CUP, a rate unchanged for over a month and a half.
Similarly, the euro holds steady at 345 CUP, just five pesos higher than the dollar. As of February 27, 2025, at 9:03 a.m. in Cuba, the exchange rates are as follows:
Current Exchange Rates:
- USD to CUP: 340 CUP
- EUR to CUP: 345 CUP
- MLC to CUP: 285 CUP
The conversion for available euro and US dollar banknotes to Cuban pesos (CUP) is:
US Dollar (USD) to Cuban Peso (CUP) Conversion:
- 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) Conversion:
- 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 the Currency Situation in Cuba
Why is the MLC experiencing an increase in value?
The rise in MLC value is likely due to increased demand and limited supply, coupled with economic policies and external factors affecting the currency's stability.
How does the exchange rate affect everyday life in Cuba?
Exchange rates significantly impact the cost of goods and services in Cuba, influencing purchasing power and the general cost of living for residents.
What are the implications of a stable dollar rate?
A stable dollar rate suggests a period of economic equilibrium in terms of currency exchange, but it may also reflect underlying issues such as inflation or government intervention.