The informal currency market in Cuba continues to set the pace for transactions involving foreign currencies. The week begins with a degree of stability in prices.
The United States dollar (USD) is quoted at 340 Cuban pesos (CUP). The European currency is equal to the USD, trading at 340 CUP.
The freely convertible currency (MLC), used for purchases in state-owned stores, remains lower, with a value of 240 CUP.
The sustained increase of the dollar in Cuba and other foreign currencies reflects the growing economic pressure in the country, where the population turns to the informal market due to the lack of access to official currencies.
These rates directly influence the purchasing power of Cubans, especially in a context of inflation and scarcity.
Exchange Rate Evolution
The trade of foreign currencies in Cuba continues to be a barometer of the economic crisis, as the Cuban peso faces rapid depreciation against international currencies.
Exchange rate in Cuba, Monday, January 27, 2025 - 10:12
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
The equivalent in Cuban pesos based on the most common bills:
United States 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 exchange rate of the dollar in the black market in Cuba today?
The exchange rate of the US dollar (USD) on the black market in Cuba today is 340 Cuban pesos (CUP). This value reflects the critical economic situation in the country and the dependence of Cubans on the informal market to acquire foreign currency.
What is the exchange rate of the euro in the Cuban informal market?
The euro (EUR) is trading at 340 Cuban pesos (CUP) in the Cuban informal market. The parity with the dollar reflects the volatility and economic pressures in Cuba.
What is the Freely Convertible Currency (MLC) and what is its exchange rate today?
The freely convertible currency (MLC) is quoted at 240 CUP in the Cuban black market. This currency is primarily used for purchases in state-run stores, reflecting the need for foreign exchange to access basic goods.
Why are black market exchange rates important for Cubans?
The exchange rates in the black market are crucial because they determine the ability of Cubans to acquire foreign currency necessary to access basic products and services. The lack of access to official foreign currency and the scarcity of products in the official market forces the population to turn to the informal market.
Filed under:
