This March 8th, the official discourse in Cuba again extols the role of women as the "driving force of the Revolution," while the behavior of the informal currency market reflects a reality that is far from just or protective of the welfare and rights of working women and homemakers, who endure low wages, scarcity, and widespread poverty.
Beyond the triumphant speeches that greet us from the state-run media and the authorities of the regime, the daily reality for many Cuban women is characterized by a constant struggle against inflation, shortages, and the deterioration of purchasing power—issues exacerbated by the informal currency market and its high exchange rates.
This Saturday, the dollar and euro were at 345 Cuban pesos (CUP) and the Convertible Currency (MLC) at 285 CUP in the informal market.
Exchange rate in Cuba. Saturday, March 8, 2025 - 07:00:
- 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 of (MLC) to Cuban pesos CUP: 285 CUP
Despite showing a relative "stability," with no significant changes in prices over the past few weeks, for the Cuban woman—who mostly receives a state salary in Cuban pesos and bears the responsibility of maintaining the household—these figures are not just mere statistics; rather, they represent a tangible barrier that increases the cost of daily life.
The stores in MLC, where essential products such as food, hygiene items, and supplies for children are sold, force many women to turn to a black market where the cost of acquiring foreign currency becomes an economic burden.
An average salary of 5,000 CUP today amounts to just 14 MLC or 14 dollars on the street, an amount insufficient to meet the basic needs of an individual, let alone a family. In the case of single mothers, the burden becomes even heavier, contributing to the reinforcement of inequality and social exclusion among increasingly larger segments of the population.
The official discourse emphasizes that Cuban women have been protagonists on "all fronts," but in practice, many face a daily dilemma between feeding their children, paying the high transportation costs, and seeking alternatives in an increasingly dollarized market.
The myth of female emancipation in socialism collapses when women have to spend hours in queues, deal with unattainable prices, and, in many cases, rely on remittances or the black market to survive.
Far from the rhetoric that socialism ensured equity, today access to basic goods and services has become a privilege determined by the ability to obtain foreign currency, a situation that particularly impacts women, who bear the majority of domestic responsibilities.
Recent evolution of the market
In recent weeks, the informal market has experienced slight fluctuations. The US dollar has remained stable at 345 CUP since last weekend.
For its part, the euro, which had reached 348 CUP on Tuesday, fell to 345 CUP on Thursday, maintaining that value until today. The MLC, after a series of increases in February, remains stable at 285 CUP during March.
The current stability in the exchange rates of the informal Cuban market can be attributed to several factors:
- Supply and demand: The demand for foreign currency remains high due to the need to acquire products and services not available in the national currency.
- Economic policies: Recent government measures, such as the opening of stores that operate exclusively in foreign currency, have increased the demand for dollars and euros among the population
- Limited access to official currencies: The difficulty in obtaining foreign currency through official channels forces citizens to turn to the informal market, maintaining pressure on exchange rates.
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