The informal foreign exchange market in Cuba continues to show signs of instability, with a new and surprising increase in the exchange rate of the Freely Convertible Currency (MLC).
This Sunday, February 16, 2025, the value of the MLC reached 250 Cuban pesos (CUP), consolidating an upward trend after weeks of relative stability, amid the uncertainty surrounding this currency in the context of the partial dollarization of the economy initiated by the Cuban regime.
Exchange rate in Cuba Sunday, February 16, 2025 - 08:00
Exchange rate of the dollar (USD) to Cuban pesos CUP: 340 CUP
Exchange rate of the euro (EUR) to Cuban pesos CUP: 345 CUP
Exchange Rate Evolution
Exchange rate from (MLC) to Cuban pesos (CUP): 250 CUP
For its part, the US dollar (USD) and the euro (EUR) maintain their values in the informal market, trading at 340 CUP and 345 CUP, respectively, according to the reference rate published by the independent media outlet elTOQUE.
The increase of the MLC occurs 48 hours after its last rise reported in CiberCuba, which stated a quote of 246.50 CUP for this currency on February 14.
Although many consider it doomed to vanish soon, the MLC keeps surprising with its upward performance at a time of increasing bewilderment about its future viability.
The new increase has once again sparked astonishment and questions, considering that in recent weeks the venues where Cubans can make transactions with that type of card have been restricted.
These movements in the informal currency market in Cuba indicate that doubts about the economic and monetary policy of the Cuban regime persist, as it moves towards a declared dollarization of its sales, using cash or cards such as VISA, MasterCard, and the Clásica, the latter operated by the government.
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