What has been the reaction of the dollar and other currencies following the announcement of the opening of new stores in Cuba?

How have currencies reacted to the opening of new dollar stores?


The dollar and other currencies remain currently unchanged in price in the Cuban informal market.

This implies that there has been no immediate reaction to the announcement made this Wednesday by the Cuban government regarding the upcoming opening of dollar stores across the national territory, as part of the partial dollarization process of the economy.

The regime has assured that accounts in Freely Convertible Currency (MLC) will remain in the banks on the island, while defending the presence of the dollar in the economy.

At dawn this Thursday, the three reference currencies in the informal buying and selling in the island have remained unchanged for eight days, according to documents from the independent medium elToque based on the monitoring of buying and selling announcements on social media.

The dollar remains at 340 CUP, a price it reached on January 11th. The US currency has now been unchanged for 19 days.

Exchange Rate Evolution

The euro is also stable, after suddenly dropping five units last week, the European currency remains today at 340 CUP, the same as the dollar.

In the case of the Freely Convertible Currency (MLC), it remains valued at 240 CUP and has been at that value for 17 days now.

Exchange rate today 01/30/2025 - 7:30 a.m. in Cuba:

Exchange rate of the dollar USD to CUP according to elTOQUE: 340 CUP.

Exchange rate of the euro EUR to CUP according to elTOQUE: 340 CUP.

Exchange rate of MLC to CUP according to elTOQUE: 240 CUP.

Overall, the three reference currencies have shown a trend towards stability during this second half of January.

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 30th:

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 Currency Stability 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 340 CUP. This value has remained stable for several days, reflecting a lack of movement in the market following the government's announcement of new dollar stores.

What impact has the announcement of new dollar stores in Cuba had on the foreign exchange market?

The announcement of new stores in dollars has not had an immediate impact on the foreign exchange market. Major currencies such as the dollar, euro, and MLC have maintained their values without significant changes in the informal market.

What is the current situation of the euro in the Cuban informal market?

The euro is currently trading at 340 CUP in the informal Cuban market, just like the dollar. The European currency has maintained its stability despite recent fluctuations.

What is the Freely Convertible Currency (MLC) and what is its current value?

The Freely Convertible Currency (MLC) is a virtual currency used in specific stores in Cuba. Currently, it is valued at 240 CUP in the informal market, maintaining its stability for several weeks.

Filed under:

CiberCuba Editorial Team

A team of journalists committed to reporting on Cuban current affairs and topics of global interest. At CiberCuba, we work to deliver truthful news and critical analysis.

CiberCuba Editorial Team

A team of journalists committed to reporting on Cuban current affairs and topics of global interest. At CiberCuba, we work to deliver truthful news and critical analysis.