On January 24, 2025, the major currencies in the black market in Cuba maintain high values, reflecting the complex economic situation of the island.
The United States dollar reaches 340 Cuban pesos (CUP), just like the euro, both with a surprising parity since Wednesday.
For its part, the freely convertible currency (MLC), used for purchases in state stores, is valued at 240 CUP.
These figures highlight the pressure facing the Cuban economy, with the informal market being the main reference for the exchange rate of currencies. The ongoing shortage of cash and the limitations on official transactions continue to fuel speculation.
The black market for foreign currency in Cuba remains the only option for many people looking to obtain dollars and euros in the country, as prices in Cuban pesos reach increasingly unsustainable levels.
Exchange Rate Evolution
Exchange rate in Cuba, Friday, January 24, 2025 - 1:25 PM
Exchange rate of the Dollar (USD) to Cuban pesos (CUP): 340 CUP
Exchange rate of the Euro (EUR) to Cuban pesos (CUP): 340 CUP
Exchange rate from (MLC) to Cuban pesos CUP: 240 CUP
List of bills and their equivalence in Cuban pesos (CUP):
Dollar (USD):
- 1 USD = 340 CUP
- 5 USD = 1,700 CUP
- 10 USD = 3,400 CUP
- 20 USD = 6,800 CUP
- 50 USD = 17,000 CUP
- 100 USD = 34,000 CUP
Euro (EUR):
- 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 exchange rates in Cuba's black market
What is the current exchange rate of the dollar in Cuba's black market?
The US dollar (USD) is trading at 340 Cuban pesos (CUP) in the black market. This figure reflects the tense economic situation in the island, where the informal market is the main source for obtaining foreign currency due to restrictions on official transactions.
What is the value of the euro in the Cuban informal market today?
The euro (EUR) is valued at 340 Cuban pesos (CUP) in the black market. This parity with the dollar highlights the economic pressure on the Cuban peso and the need for foreign currency to access products and services on the island.
What is the Freely Convertible Currency (MLC) and what is its current exchange rate?
The freely convertible currency (MLC) is traded at 240 Cuban pesos (CUP) on the black market. It is a virtual currency primarily used in state-run stores in Cuba, and its value reflects the high demand and scarcity of foreign currency in the country.
Why are black market exchange rates crucial for Cubans?
The exchange rates in the black market are essential because they determine the ability of Cubans to acquire foreign currencies. These currencies are necessary to access basic products and services, due to the scarcity in the official market. The volatility of these rates reflects the economic crisis and the lack of financial stability on the island.
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