Dollars and euros continue their rising trend this Wednesday in the Cuban informal market, a trend contrary to that of the freely convertible currency (MLC), which is in free fall.
At dawn on January 8, the US dollar is trading at an average of 330 CUP, three pesos more than the previous day.
In the case of the euro, at 8:00 a.m. (Cuban local time) the European currency reached 340 CUP, an increase of five units compared to Tuesday.
The Freely Convertible Currency, on the other hand, drops five pesos and stands at 245 CUP.
The virtual currency used by the Cuban government, which seems doomed to disappear following the “partial dollarization” initiated by the regime, thus confirms its fall from grace and the uncertainty surrounding its future.
Evolution of the exchange rate
Exchange rate today 8/01/2025 - 8:18 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 330 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 340 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 245 CUP.
After a streak of declining prices experienced by the currencies in December—especially following the announcement of a floating official rate in 2025—dollars and euros have rebounded since the beginning of 2025.
As one of the possible causes, the recent opening of a new supermarket in Havana, which is exclusive for payments in foreign currencies such as dollars and euros, has stood out, marking another step in the dollarization process announced by the regime.
This phenomenon has increased the demand for strong currency, as more and more basic goods are only available in stores that operate in foreign currency and do not accept MLC, according to a growing number of Cubans reporting on social media.
Equivalences of each available Euro and US dollar bill to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this January 7:
1 USD = 330 CUP.
5 USD = 1,650 CUP.
10 USD = 3,300 CUP.
20 USD = 6,600 CUP.
50 USD = 16,500 CUP.
100 USD = 33,000 CUP.
Euros (340 CUP for each euro):
1 EUR = 340 CUP.
5 EUR = 1,700 CUP.
10 EUR = 3,400 CUP.
20 EUR = 6,800 CUP.
50 EUR = 17,000 CUP.
100 EUR = 34,000 CUP.
Frequently Asked Questions about the Informal Currency Market in Cuba
What is the current exchange rate of the dollar in the Cuban informal market?
The exchange rate of the dollar in the Cuban informal market is 330 Cuban pesos (CUP). This value has shown an increase compared to the previous day, reflecting the ongoing volatility of the market.
How has the price of the euro varied in the informal market of Cuba?
The price of the euro in the informal market of Cuba has risen to 340 CUP. This increase is due to a higher demand for hard currency on the island, especially for purchases in stores that only accept foreign currency.
What is the Freely Convertible Currency (MLC) and what is its current value in the informal market?
The Freely Convertible Currency (MLC) is a virtual currency used in specific stores in Cuba. Currently, its value in the informal market is 245 CUP, showing a downward trend compared to other currencies.
What factors have influenced the rise in currency prices in the Cuban informal market?
The recent opening of a supermarket in Havana that only accepts payments in foreign currency has intensified the demand for dollars and euros, contributing to the rise in prices in the informal market. This phenomenon is part of a process of partial dollarization of the Cuban economy.
How does the situation in the currency market affect the purchasing power of Cubans?
Inflation and the scarcity of foreign currency limit the purchasing capacity of the population, forcing them to turn to the informal market to access basic goods and services, which exacerbates the daily economic difficulties in Cuba.
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