On Tuesday, both the dollar and the euro opened with notable increases in their selling prices in the informal Cuban market. It has been several weeks since both currencies experienced a rise in value on the same day.
At 7:00 a.m. (local time), the US dollar was trading at 348 CUP, an increase of one peso compared to the previous day.
In the case of the euro, which had been steady at 350 for several days, it rises by two pesos and reaches 352 CUP.
Only the Freely Convertible Currency (MLC) remains unchanged today, still valued at 275 CUP, well away from the dollar and the euro.
The median purchase and sale values of the currencies for this Tuesday also reveal some movements.
Exchange Rate Evolution
Among them, the most interesting is the increase to 350 CUP in the sale of the dollar, which could be an indication that the U.S. currency will continue to rise in the informal market.
Exchange rate today 03/18/2025 - 7:04 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 348 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 352 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 275 CUP.
Equivalencies of each available bill in euros and US dollars to Cuban pesos (CUP)
United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates as of March 18:
1 USD = 348 CUP.
5 USD = 1,740 CUP.
10 USD = 3,480 CUP.
20 USD = 6,960 CUP.
50 USD = 17,400 CUP.
100 USD = 34,800 CUP.
EUROS (EUR)
1 EUR = 352 CUP.
5 EUR = 1,760 CUP.
10 EUR = 3,520 CUP.
20 EUR = 7,040 CUP.
50 EUR = 17,600 CUP.
100 EUR = 35,200 CUP.
200 EUR = 70,400 CUP.
500 EUR = 176,000 CUP.
Cubans closely monitor the informal exchange rate of the dollar, euro, and MLC as it dictates their real purchasing power in an economy characterized by scarcity and inflation.
The volatility of exchange rates in Cuba causes many residents on the island to closely monitor the developments of the informal market, seeking strategies to protect their purchasing power against the devaluation of the national currency.
In a country where salaries and pensions in Cuban pesos (CUP) are insufficient to cover basic needs, access to foreign currency has become a necessity to purchase essential products in stores that only sell in foreign currency or to carry out 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.
Frequently Asked Questions about the Increase in Dollar and Euro Prices in Cuba
What is the exchange rate for the dollar in the informal Cuban market today?
The dollar is valued at 348 CUP in the Cuban informal market, showing an increase of one peso compared to the previous day. This rise may indicate a trend upward in the coming days.
What is the price of the euro in Cuba today?
The euro is trading at 352 CUP in the Cuban informal market, which represents an increase of two pesos compared to the previous day. This rise suggests that the upward trend of the euro may continue.
Why is the informal currency market so important in Cuba?
The informal currency market is crucial in Cuba because it determines the real purchasing power of Cubans in an economy affected by scarcity and inflation. The volatility of exchange rates causes many residents to closely monitor these values to protect their purchasing power against the devaluation of the Cuban peso.
How does the devaluation of the Cuban peso affect the daily economy of citizens?
The constant devaluation of the Cuban peso against the dollar and the euro has created an inflationary spiral that particularly affects those who rely on income in national currency. This forces Cubans to seek foreign currency to purchase essential goods and conduct transactions in a market where the national currency is insufficient.
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