They neither rise nor fall, for the third consecutive day, the monitoring conducted by elToque of the value of currencies in the Cuban informal market, does not reflect price changes in the average selling values.
This Friday, the dollar is still valued at 345 CUP, while the euro is just five pesos higher, having reached 350 on Tuesday and remaining at that price for now.
In the case of the Freely Convertible Currency (MLC), which last weekend
Nevertheless, in the median values of buying and selling currencies, a noticeable movement can be observed: in recent hours, the median selling price of the dollar has risen to 348 CUP.
This movement could herald a rise in the average sale price of the U.S. dollar in the coming hours
Exchange Rate Evolution
Exchange rate today 14/03/2025 - 9:12 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 345 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 350 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 280 CUP.
Cubans are concerned with the informal exchange rate of the dollar, euro, and MLC because it determines their real purchasing power in an economy characterized by scarcity and inflation.
The volatility of exchange rates in Cuba causes many citizens living on the island to closely monitor the evolution of the informal market, in search of strategies to protect their purchasing power against the devaluation of the national currency.
In a country where salaries and pensions in Cuban pesos (CUP) do not cover basic needs, access to foreign currency has become necessary to purchase essential products in stores that only sell in foreign currency or to conduct transactions in the black market, where items that are not available in state commerce can be found.
The constant devaluation of the Cuban peso against the dollar and the euro has created an inflationary spiral that particularly impacts those who rely on income in national currency.
Equivalences 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 March 14:
Dollar (USD):
1 USD = 345 CUP.
5 USD = 1,725 CUP.
10 USD = 3,450 CUP.
20 USD = 6,900 CUP.
50 USD = 17,250 CUP.
100 USD = 34,500 CUP.
Euro (EUR):
1 EUR = 350 CUP.
5 EUR = 1,750 CUP.
10 EUR = 3,500 CUP.
20 EUR = 7,000 CUP.
50 EUR = 17,500 CUP.
100 EUR = 35,000 CUP.
Frequently Asked Questions about the Currency Exchange Rate in Cuba
What is the current exchange rate of the dollar in the informal Cuban market?
The current exchange rate of the dollar in the Cuban informal market is 345 CUP per dollar. However, there is a movement in the median selling values that could indicate a future increase.
What is the exchange rate for the euro in Cuba's informal market?
The euro is currently valued at 350 CUP in Cuba's informal market, five pesos above the dollar.
What is the Freely Convertible Currency (MLC) and what is its current value in Cuba?
The freely convertible currency (MLC) is a virtual currency used in certain transactions in Cuba. Currently, its value is 280 CUP in the informal market.
Why do Cubans closely monitor the exchange rate in the informal market?
Cubans closely monitor the exchange rate in the informal market because it determines their real purchasing power in an economy characterized by scarcity and inflation. In a context where salaries in Cuban pesos are insufficient, access to foreign currency is crucial for acquiring essential goods.
Filed under:
