The Freely Convertible Currency (MLC) continues to rise in the Cuban black market and has already seen nearly two weeks of sustained increase.
At 8:00 a.m. this Wednesday (local time), the MLC is being sold at an average of 283 CUP in Cuba, three pesos more than the previous day.
The figure narrows the gap with the values of the euro and the dollar and consolidates the streak of increases that the virtual currency started on February 14.
The dollar, for its part, continues to struggle and remains at 340 CUP today, despite Tuesday's median values showing an increase to 342 CUP in the selling of the U.S. currency; for the moment, it remains unchanged.
In the case of the euro, the situation is the same, the European currency remains priced at 345 CUP, just five pesos above the dollar.
Exchange Rate Evolution
Exchange rate today 02/26/2025 - 8:48 a.m. in Cuba:
The exchange rate of the dollar USD to CUP according to elTOQUE: 340 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 345 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 283 CUP.
Equivalencies 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 as of February 26:
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 = 345 CUP.
5 EUR = 1.725 CUP.
10 EUR = 3,450 CUP.
20 EUR = 6,900 CUP.
50 EUR = 17,250 CUP.
100 EUR = 34,500 CUP.
Why has the price of the Freely Convertible Currency risen in recent days?
The virtual currency used by the regime in some stores, which some believe is doomed to disappear, has increased by a total of 38 pesos since February 14.
The recent appreciation of the Convertible Currency (MLC) in Cuba has surprised both citizens and the economic sector. The paradox lies in the fact that, despite the decrease in stores accepting this currency, its value has increased, contradicting typical expectations in a low-demand scenario.
According to economist Pavel Vidal, in recent statements to elToque, this increase could merely be a "temporary correction" following the sharp drop in its value at the beginning of the year.
From the Observatory of Currencies and Finances of Cuba (OMFi), Vidal explained that these adjustments are normal after sharp movements in exchange rates. Furthermore, the rigidity of prices in a market affected by scarcity promotes arbitrage operations, which could temporarily boost the demand for MLC.
On social media, some users have suggested other reasons behind the phenomenon.
A user noted that certain items purchased in MLC and resold in Cuban pesos at the current exchange rate yield significant profits.
Cigars have been identified as a key product in this context. Some users claim that profits can double the original value of the products purchased in MLC.
Other goods such as eggs, yogurts, sausages, detergent, or soap would also be driving the increasing demand for this currency, due to the advantages of reselling them in Cuban pesos with significant profit margins.
At the same time, the Cuban regime continues to move towards a partial dollarization of sales, opening stores that only accept payments in cash or through cards like VISA, MasterCard, and the Clásica, the latter managed by the government itself.
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