The US dollar has made a surprising move today. After being pegged at 340 CUP for several weeks, the exchange rate shifted to 341 CUP at 6:00 a.m. local time in Cuba this Friday, marking a modest increase of one peso. However, the median value over the past 24 hours for dollar sales stands at 345 CUP, reflecting an uptick of three pesos compared to the previous day's median.
It remains uncertain whether this rise in the American currency is a temporary fluctuation or a sign of a more consistent trend in the coming days.
In contrast, the Freely Convertible Currency (MLC), which has experienced a steady and unprecedented price increase over the past two weeks, holds steady today at 285 CUP, the same as yesterday. The euro also remains unchanged, with the European currency still valued at 345 CUP.
Current Exchange Rates in Cuba
Exchange rates as of February 28, 2025, at 6:00 a.m. in Cuba:
- USD to CUP: 341 CUP according to elTOQUE.
- EUR to CUP: 345 CUP according to elTOQUE.
- MLC to CUP: 285 CUP according to elTOQUE.
Here are the equivalent values for each available bill of euros and US dollars in Cuban pesos (CUP):
- US Dollar (USD):
- 1 USD = 341 CUP
- 5 USD = 1,705 CUP
- 10 USD = 3,410 CUP
- 20 USD = 6,820 CUP
- 50 USD = 17,050 CUP
- 100 USD = 34,100 CUP
- Euro (EUR):
- 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
FAQs on Cuba's Currency Exchange
Why did the US dollar rate change in Cuba's black market?
The reasons for the change in the US dollar rate in Cuba's black market can include economic factors, supply and demand dynamics, and speculative activities. It's unclear if this is a temporary fluctuation or a sign of a more stable trend.
What is the significance of the MLC maintaining its value?
The stability of the MLC at 285 CUP indicates a pause in its recent upward trend. This stability could reflect market adjustments or temporary balance in economic factors influencing the currency.