This Sunday, March 30, 2025, the key foreign currencies in Cuba's informal market are holding steady after a slight rise in the euro the previous day. According to monitoring by CiberCuba, the U.S. dollar (USD) is valued at 355 CUP, the euro (EUR) at 360 CUP, and the Freely Convertible Currency (MLC) at 275 CUP, unchanged from Saturday's close.
Exchange Rates in Cuba: Sunday, March 30, 2025 - 14:00
Current exchange rate for the U.S. dollar (USD) to Cuban pesos (CUP): 355 CUP
Current exchange rate for the euro (EUR) to Cuban pesos (CUP): 360 CUP
Current exchange rate for the MLC to Cuban pesos (CUP): 275 CUP
The informal market continues to highlight the high demand for foreign currencies on the island amid an extended economic crisis, with no signs of official stabilization of exchange rates.
Currency Conversion: Dollars and Euros to Cuban Pesos
U.S. Dollar (USD) to Cuban Peso (CUP), based on March 28 exchange rates:
1 USD = 355 CUP
5 USD = 1,775 CUP
10 USD = 3,550 CUP
20 USD = 7,100 CUP
50 USD = 17,750 CUP
100 USD = 35,500 CUP
Euros (EUR):
1 EUR = 360 CUP
5 EUR = 1,800 CUP
10 EUR = 3,600 CUP
20 EUR = 7,200 CUP
50 EUR = 18,000 CUP
100 EUR = 36,000 CUP
200 EUR = 72,000 CUP
500 EUR = 178,000 CUP
Cubans closely watch the informal exchange rates of the dollar, euro, and MLC, as these determine their real purchasing power in an economy characterized by scarcity and inflation. The volatility of exchange rates on the island prompts many residents to continuously monitor the market, seeking strategies to safeguard their purchasing power against the devaluation of the national currency.
Understanding Cuba's Informal Currency Exchange
Why are informal exchange rates important in Cuba?
Informal exchange rates are crucial as they reflect the real purchasing power of Cubans in a market affected by economic instability and official rate inconsistencies.
What factors influence the demand for foreign currencies in Cuba?
Factors such as prolonged economic crisis, scarcity of goods, and inflation drive the demand for foreign currencies as Cubans look for stable value to protect their savings.
How do Cubans use foreign currency in their daily lives?
Cubans often use foreign currency to purchase goods in stores that require MLC, which are often better stocked than those accepting only national currency.