This Saturday, March 1, 2025, the informal currency market in Cuba recorded a slight decline in the exchange rates of the United States dollar (USD) and the freely convertible currency (MLC).
According to data provided by the independent media elTOQUE, the USD was quoted at 342 Cuban pesos (CUP), three pesos less than the quotation from the previous day; while the MLC reached 285 CUP, five pesos below the value reached this Friday in the black currency market.
The euro, for its part, remained stable and this Saturday it is sold in Cuba for 345 CUP.
Exchange rate in Cuba (Saturday, March 1, 2025 - 08:00)
- Exchange rate of the dollar (USD) to Cuban pesos (CUP): 342 CUP
Exchange Rate Evolution
- Euro exchange rate (EUR) to Cuban pesos CUP: 345 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 285 CUP
During the past few weeks, the behavior of the MLC has experienced an unusual upward trend, reaching historic highs. On February 27th, for example, it was quoted at 285 CUP, consolidating a streak of increases that began on February 14th, after having remained at 245 CUP for many weeks.
The dollar, for its part, shows stability in the informal market, remaining around 340 CUP for more than a month and a half.
The "partial dollarization of the economy" and the consequent increase in dollar stores - featuring essential products that are in short supply within the regulated family basket distribution system - drive this constant demand for the U.S. dollar that the Cuban regime claims is necessary to prevent the collapse of its economy.
At the same time, it is important to highlight that exchange rates in the informal market can vary significantly due to the lack of a transparent official market and the influence of external and internal factors on the Cuban economy.
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