After a week of minimal fluctuations, the value of the United States dollar (USD) in Cuba's informal currency market experienced a slight increase on Wednesday, reaching 352 Cuban pesos (CUP). In contrast, the European currency (EUR) saw a decrease, dropping from 357 CUP the previous day to 355 CUP. Meanwhile, the Moneda Libremente Convertible (MLC) stayed unchanged, maintaining its rate at 275 CUP.
Exchange Rate in Cuba, Wednesday, March 26, 2025 - 08:00 AM:
- USD to CUP: 352 CUP
- EUR to CUP: 355 CUP
- MLC to CUP: 275 CUP
These figures were reported by the independent outlet elTOQUE, which conducts daily monitoring of the USD, EUR, and MLC prices in the informal market. Their methodology relies on analyzing social media posts and buy-sell platforms.
Although the day's variances are minor, they indicate a relatively stable trend in a market characterized by uncertainty and volatility. Since early 2025, the USD exchange rate has hovered around 350 CUP, whereas the euro has exhibited greater fluctuations, affected by international factors and its limited availability in the Cuban informal market.
The dollar's increased value could be linked to rising demand, both for remittances and for supply in the black market, where this currency remains the preferred choice for cash transactions. On the other hand, the euro's slight decline might be a temporary adjustment due to oversupply or global exchange rate changes.
The stable rate of the Moneda Libremente Convertible, used in state stores for essential goods, suggests steadiness in that particular segment of the informal market, despite ongoing criticism of its exclusive use in government-run shops.
The informal currency market continues to serve as a crucial indicator of Cuba's economic health, in a climate marked by inflation, a scarcity of foreign currency, and widespread mistrust in the national currency.
Understanding Cuba's Informal Currency Market
Why is the informal currency market important in Cuba?
The informal currency market is a key indicator of economic conditions in Cuba, reflecting the levels of inflation, currency scarcity, and public trust in the national currency.
What factors influence currency fluctuations in this market?
Currency fluctuations in the informal market are influenced by supply and demand dynamics, international economic conditions, and domestic policies affecting currency availability.
How reliable are reports from the informal currency market?
Reports from the informal currency market, like those from elTOQUE, often rely on data from social media and trading platforms. While they provide valuable insights, they should be interpreted with caution due to potential variances and lack of official verification.