The dollar confirms its upward trend in the Cuban informal market for another day.
At 9:00 a.m. this Friday (local time), the US dollar is selling for an average of 338 CUP, three pesos more compared to its value on Thursday.
In the case of the euro, the European currency is trading at an average of 340 CUP, a price it has maintained for the past two days.
The Freely Convertible Currency (MLC) remains unchanged at 245 CUP.
After a series of consecutive price drops in foreign currencies in December, especially following the Cuban government's announcement to implement a floating official exchange rate throughout 2025, foreign currencies have taken a new upward turn since the beginning of this year.
Exchange Rate Evolution
One of the possible causes highlighted is the opening of a new supermarket in Havana, which is exclusive for payments in foreign currency, reshaping the value of cash use in currencies in Cuba and plunging the future of the Convertible Currency (MLC) into uncertainty.
Exchange rate today 01/10/2025 - 9:31 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 338 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.
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 as of January 10:
1 USD: 338 CUP.
5 USD: 1,690 CUP.
10 USD: 3,380 CUP.
20 USD: 6,760 CUP.
50 USD: 16,900 CUP.
100 USD: 33,800 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 Exchange Market in Cuba
What is the current exchange rate of the dollar in the Cuban informal market?
In the Cuban informal market, the exchange rate of the US dollar stands at 338 CUP for each dollar, according to the most recent report from January 10, 2025.
How is the euro quoted in Cuba's informal market?
The euro trades in the Cuban informal market at an average of 340 CUP per euro, remaining stable at this value for the past two days.
What is the freely convertible currency (MLC) and what is its current value?
The Freely Convertible Currency (MLC) is a virtual currency used by the Cuban government for transactions in foreign currency. Currently, its value in the informal market is 245 CUP, indicating a devaluation trend compared to the dollar and the euro.
What factors have influenced the recent increase in foreign exchange values in Cuba?
The recent increase in the value of foreign currencies, such as the dollar and the euro, is partly attributed to the opening of a new supermarket in Havana that only accepts payments in foreign currencies, which has increased the demand for hard currency in Cuba. This phenomenon reflects the process of dollarization that the regime has been promoting, thereby increasing uncertainty about the future of the freely convertible currency (MLC).
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