The dollar in Cuba continues its upward trend in the informal market, maintaining a value of 340 CUP for 1 USD this Saturday.
This rate reflects the high demand for the U.S. dollar, essential for transactions and payments in stores under the regime. Economic instability and scarcity have driven this increase, solidifying the dollar as the reference currency for many Cubans.
On its part, the euro remains at the same rate as the dollar, with a value of 340 CUP for 1 EUR. This parity reflects the increasing preference for the euro in foreign currency exchange in Cuba, especially in commercial transactions and for international travel.
Finally, the MLC (Freely Convertible Currency) is being quoted at 240 CUP, showing a lower demand compared to the dollar and the euro. The MLC remains essential for purchasing products in state stores, but it is becoming less and less used.
Exchange rate in Cuba, Saturday, February 1, 2025 - 06:00
Exchange rate of the Dollar (USD) to Cuban pesos (CUP): 340 CUP
Exchange Rate Evolution
Exchange rate of the Euro (EUR) to Cuban pesos (CUP): 340 CUP
Exchange rate from (MLC) to Cuban pesos CUP: 240 CUP
Equivalent in CUP for available banknotes in dollars and euros:
Dollar bills (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 banknotes (EUR):
- 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
- 200 EUR = 68,000 CUP
- 500 EUR = 170,000 CUP
Frequently Asked Questions about Currency Exchange in Cuba
What is the exchange rate of the dollar in the informal market in Cuba today?
The dollar in Cuba is trading at 340 Cuban pesos (CUP) for each US dollar in the informal market today. This rate reflects the high demand for the currency in an unstable economic context.
Why do the euro and the dollar have the same exchange rate in Cuba?
The euro and the dollar have the same exchange rate of 340 CUP due to a growing preference for both currencies in Cuba. This parity is a result of their high demand for commercial transactions and international travel preparations.
What is the MLC and what is its current value in the informal market?
The MLC, or Freely Convertible Currency, is currently traded at 240 CUP in the informal market of Cuba. It is primarily used for purchases in state stores but shows lower demand compared to the dollar and the euro.
How does the informal currency market affect the Cuban economy?
The informal currency market is the main reference for currency exchange in Cuba due to the scarcity of foreign currency in official channels. This reflects the country’s economic crisis, where inflation and the devaluation of the Cuban peso significantly impact the purchasing power of the population.
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