The dollar rose again this Sunday in the Cuban informal market, reaching 345 Cuban pesos (CUP) once more, following the slight drop observed in the previous day.
In contrast, the euro remains unchanged at 345 CUP, while the MLC remains stable at 285 CUP.
After experiencing a slight drop of three pesos, the dollar returned to the rate it was at on Friday, February 28, reflecting the instability of the currency market in Cuba and the uncertainty that permeates the decisions of users in the black foreign exchange market.
Exchange rate in Cuba Sunday, March 2, 2025 - 05:00
- Exchange rate of the dollar (USD) to Cuban pesos CUP: 345 CUP
Exchange Rate Evolution
- Exchange rate of the euro (EUR) to Cuban pesos (CUP): 345 CUP
- Exchange rate from (MLC) to Cuban pesos CUP: 285 CUP
Dollar and euro on the rise: This is how the exchange rate in Cuba has changed since January 2025
The informal currency market in Cuba has shown a strong upward trend since the beginning of 2025, with a steady appreciation of the dollar, the euro, and the MLC against the Cuban peso (CUP).
This situation reflects the sustained depreciation of the national currency and the economic difficulties facing the island.
In January 2025, the dollar started the year trading around 320 CUP in the informal market, while the euro was slightly higher at 325 CUP. The MLC, used for transactions in state stores, was around 270 CUP.
During February, the value of foreign currencies continued to rise. The high demand for dollars drove its exchange rate up to 340 CUP, while the euro exhibited similar behavior, reaching values close to that figure. Meanwhile, the MLC gradually increased as well, reaching 280 CUP by the end of the month.
By March 2025, the figures continue to rise. This Sunday, March 2, the dollar has regained ground after a slight drop the previous day, standing at 345 CUP, the same value held by the euro. The MLC, on the other hand, remains stable at 285 CUP, with no significant changes in recent days.
The sustained rise of these currencies in the informal market suggests a growing deterioration of the Cuban peso, impacted by inflation and a shortage of foreign currency in the national economy.
The exchange rate instability, driven by economic uncertainty and the restrictions imposed by the Cuban government, has led the informal market to become the primary benchmark for buying and selling foreign currencies.
Short-term expectations suggest that this trend could continue, as the need for access to foreign currency remains inadequately met by official channels.
The volatility of exchange rates on the island causes many Cubans to closely monitor the evolution of the informal market in search of strategies to protect their purchasing power against the devaluation of the CUP.
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