March has brought a noticeable uptick in activity for the informal currency exchange market in Cuba, with both the euro and the dollar seeing more movement compared to February. This trend continues to unfold as of Thursday morning.
As of the morning of March 27, the euro has rebounded from its previous day's decline, rising to 358 CUP, marking a three-peso increase. Meanwhile, the U.S. dollar remains steady at 352 pesos, a rate it reached on Wednesday. However, recent trading trends suggest that a rise in the dollar's value might be imminent.
The Freely Convertible Currency (MLC) remains stable at 275 CUP. Following a February marked by significant hikes, the MLC's value has slightly decreased over the last few weeks, according to independent monitoring by the outlet elToque, which tracks the fluctuations of key currencies in Cuba.
As this article concludes, the median trading values for Thursday indicate a rise, with the dollar selling at 355 CUP and the euro at 360. These shifts may signal continued volatility in the currency exchange market in the coming hours.
Current Exchange Rates: March 27, 2025 - 7:54 a.m. in Cuba
According to elTOQUE, the exchange rates are as follows:
- USD to CUP: 352 CUP
- EUR to CUP: 358 CUP
- MLC to CUP: 275 CUP
Last week's report from the Cuban Observatory of Currencies and Finance (OMFi) projected conditions ripe for an increase in the informal buying and selling prices of both the dollar and euro by the end of this month.
The analysis predicts exchange rates of approximately 350-360 CUP per 1 USD by March 31. For the euro, the anticipated rate ranges from 352-362 CUP per 1 EUR, depending on central and maximum scenarios. The MLC is expected to range between 270-260 CUP in central and minimum scenarios.
Pavel Vidal, chief economist and researcher at OMFi, noted that these forecasts are contingent upon potential new economic policy announcements by the Cuban government, adjustments in regulatory frameworks for the private sector, market expectation shifts, and any changes in U.S. sanctions under the Trump Administration.
Exchange Rate Equivalencies: USD and EUR to CUP
Current conversion rates for U.S. dollars and euros to Cuban pesos as of March 27 are as follows:
U.S. Dollar (USD)
- 1 USD = 352 CUP
- 5 USD = 1,760 CUP
- 10 USD = 3,520 CUP
- 20 USD = 7,040 CUP
- 50 USD = 17,600 CUP
- 100 USD = 35,200 CUP
Euros (EUR)
- 1 EUR = 358 CUP
- 5 EUR = 1,790 CUP
- 10 EUR = 3,580 CUP
- 20 EUR = 7,160 CUP
- 50 EUR = 17,900 CUP
- 100 EUR = 35,800 CUP
- 200 EUR = 71,600 CUP
- 500 EUR = 179,000 CUP
Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC, as these directly affect their purchasing power in an economy characterized by scarcity and inflation.
The unpredictable nature of Cuba's exchange rates compels many island residents to remain vigilant, seeking strategies to safeguard their financial stability against the declining value of the national currency.
Understanding Cuba's Informal Currency Market
Why is the informal currency market significant in Cuba?
The informal currency market in Cuba is crucial because it provides a more accurate reflection of the actual purchasing power of the local populace in an environment where the official rates are often disconnected from market realities.
What factors influence the volatility of exchange rates in Cuba?
Exchange rate volatility in Cuba is influenced by factors such as government economic policies, regulatory changes, market sentiment, and international sanctions.