For the first time in several weeks, all three key currencies in Cuba's informal market experienced shifts on the same day: today, the dollar and euro have increased in value while the Freely Convertible Currency (MLC) has decreased. As of this Thursday morning, the average selling price of the US dollar rose for the second consecutive day, reaching 358 Cuban Pesos (CUP), as reported by the independent outlet elToque.
This amount represents a one-peso increase from the previous day's dollar value, nearing the 360 threshold, which the euro has surpassed today. The European currency jumped five pesos, now standing at 365 CUP. Meanwhile, the MLC has dropped to 272 CUP.
Exchange Rates on April 3, 2025, 1:30 a.m. in Cuba:
- USD to CUP, as per elToque: 358 CUP.
- EUR to CUP, as per elToque: 365 CUP.
- MLC to CUP, as per elToque: 272 CUP.
Conversion rates for available euro and US dollar bills to Cuban Pesos (CUP) are as follows:
US Dollar (USD) to Cuban Peso (CUP) Conversion
- USD 1 = 358 CUP
- USD 5 = 1,790 CUP
- USD 10 = 3,580 CUP
- USD 20 = 7,160 CUP
- USD 50 = 17,900 CUP
- USD 100 = 35,800 CUP
Euro (EUR) to Cuban Peso (CUP) Conversion
- EUR 1 = 365 CUP
- EUR 5 = 1,825 CUP
- EUR 10 = 3,650 CUP
- EUR 20 = 7,300 CUP
- EUR 50 = 18,250 CUP
- EUR 100 = 36,500 CUP
- EUR 200 = 73,000 CUP
- EUR 500 = 182,500 CUP
Cubans closely monitor the informal exchange rates of the dollar, euro, and MLC, as these rates significantly influence their real purchasing power in an economy plagued by shortages and inflation. The fluctuating exchange rates in Cuba compel many residents to stay informed about the informal market trends, seeking ways to safeguard their purchasing power against the devaluation of the national currency.
Understanding Cuba's Informal Exchange Market
Why do Cubans focus on informal exchange rates?
Cubans pay close attention to informal exchange rates because they directly affect their purchasing power in a market characterized by scarcity and inflation.
What causes the volatility in Cuba's exchange rates?
The volatility is mainly due to the economic uncertainties and the lack of a stable, official exchange rate system, making the informal market a primary reference for currency values.